Consumer complaint received 2022-08-01 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
My XXXX brother 's XXXX XXXX XXXX  Account was defrauded of {$24000.00} due to inadequate security measures employed by Wells Fargo Bank. 

XXXX ) Both my other brother and I are legal trustees and can not, as per the terms of this XXXX XXXX XXXX  wire money ( and in the amount that was wired out of our account by scammers ) without the other 's approval. 

XXXX ) We have never wired money out of this account since the time it was opened, and certainly NOT VIA ONLINE, therefore NO ESTABLISHED PRIOR PATTERN OF BEHAVIOR. 

XXXX ) The Scammers called from the official Wells Fargo Customer Phone Number ( listed on the back of every single Customers ' Bank Card. ) and followed the EXACT SAME PROTOCOL as Wells Fargo follows when tracking potential Fraud, thereby leaving it perfectly indistinguishable to the Customer that this is not to be trusted. There is NO REASON why any Customer would know better and not to trust this form of SCAM, given that it is identical to how Wells Fargo operates in trying to protect it's Customers. 

XXXX ) Whereas we received just days later a separate email from XXXX XXXX XXXX XXXX alerting it's customers to this type of FRAUD and things to be weary of ( i.e. the nuances of the different types of security codes that are sent via text message to Customers, the particular way in which Scammers are doing this, ) and HOW Scammers will pose even as Wells Fargo Fraud Prevention to 'protect ' customers, while robbing them blind ... NOTHING has been sent from Wells Fargo to it's Customers about this type of incident which is now happening with Wells Fargo to it's own Customers. It has been nearly a month since the incident took place. 

XXXX ) My brother is legally XXXX. {$24000.00} is a lot of money therefore that he can not recoup, given that he does not make an income, like regular folks. This was a XXXX XXXX, which we, as Trustees, are entrusted to protect for his benefit in perpetuity. I had no reason not to believe that what I was doing was protecting my brother when I was contacted from a Wells Fargo official Customer Service Phone Number warning me of Fraud. 

XXXX ) Where is the FDIC Insured part of this equation? I've been victim shamed by people handling the Case and the Claim at Wells Fargo, who seemed to have nothing more than the agenda to wipe their hands clean of the situation and be done with me, thereby closing the claim. 

XXXX ) I was not given the contact details of anyone with whom I could be in touch with regarding the 'recovery ' of these funds, now held up in 120 day process. 

XXXX ) I have yet to receive any formal communication from Wells Fargo regarding this matter and next steps in the process. 

XXXX ) On the day this happened, there were multiple 'Customer Service ' agents who failed me at multiple junctures, providing misinformation, disinformation, bureaucratic runnaround, NO REAL HELP. 

XXXX ) I had to spend the entire day in the branch closing and reopening ALL OF MY ACCOUNTS due to this breach. 

XXXX ) HOW did the Scammers get my information??? They already were in my online account by the time they called. 

XXXX ) why should I trust Wells Fargo with any of my money at this point if my brother ( who is XXXX ) was put into this position. 

XXXX ) I would like other Customers to be aware of this kind of liability and SCAM, and be as educated as they can be on how to protect themselves, given that the very institutions with whom we entrust our life savings can not seem to protect the most vulnerable.

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