Consumer complaint received 2025-07-21 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: WELLS FARGO & COMPANY
State: TX

Complaint narrative:
Subject : Complaint Regarding Unauthorized Transfers and Account Takeover Wells Fargo On Friday, XX/XX/XXXX, I was the victim of a social engineering scam and account takeover that led to unauthorized electronic fund transfers from my Wells Fargo account. I am requesting full reimbursement under Regulation E and CFPB guidance.

Summary of Incident : I received a text message that appeared to be from Wells Fargo, asking whether I recognized a {$560.00} charge at XXXX. I replied No, believing it was a legitimate fraud alert. This belief was based on my prior experience : in the past year, Ive had XXXX actual incidents of unauthorized charges, during which Wells Fargo contacted me via text and phone to verify transactions. Each incident required me to file a claim, replace my debit card, and endure significant disruption. 
Because of this frustrating history, when I received this recent fraud alert, I was emotionally overwhelmed and not thinking critically. I assumed this was another case of fraud and prepared to go through the same time-consuming resolution process again. 
Shortly after replying No, I received a phone call from someone claiming to be from the Wells Fargo fraud department. The call followed the same structure and tone as previous legitimate calls from Wells Fargo. The caller asked me to verify my username, and said theyd send a one-time passcode to confirm my identity. I received a real Wells Fargo code on my phone and, still believing the caller was a Wells Fargo employee, I provided it. 
I did not share my password. However, the caller used the passcode to reset my credentials, take control of my account, and lock me out. 

Fraudulent Actions Taken : While the scammer had access to my account, they : * Transferred {$2000.00} from my savings to checking ( without my knowledge or authorization ). 
* Instructed me to send a total of {$2400.00} via XXXX XXXX and XXXX XXXX, falsely claiming this would safeguard my funds while the account was being secured. 
Trusting I was speaking with Wells Fargos fraud team, I complied unknowingly transferring funds directly to the fraudster.

Reporting and Bank Response : I reported the incident to Wells Fargo immediately and a fraud claim was filed on XX/XX/XXXX. However, I have received no communication or updates about the investigation not by phone, email, or secure message. When I followed up, I was told that because the case is being handled externally, Wells Fargo would not provide a provisional credit, nor further information.

Request for CFPB Action : Under Regulation E ( 12 CFR 1005.2 ( m ) ), these transfers should be considered unauthorized electronic fund transfers, as they were initiated by a third party who gained access through fraud and deception not with my actual consent. CFPBs own guidance clarifies that when a consumer is tricked into sharing login credentials or one-time security codes, any resulting transfers are unauthorized, even if the consumer was deceived into facilitating them.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation