Consumer complaint received 2022-01-27 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Fraud or scam — 
Company: WELLS FARGO & COMPANY
State: CO

Complaint narrative:
On XX/XX/XXXX, Wells Fargo defrauded me for {$3500.00}. I was heading to my doctor 's appointment and received a text at XXXXXXXX XXXX from Wells Fargo, identical to all alert text messages sent to my cell phone. It stated, " Did you attempt a XXXX payment for the amount of {$3500.00}? Reply YES or NO or XXXX to STOP Fraud Alerts. I was driving and unable to respond to the message. At XXXX XXXX I received another text message from the Wells Fargo text alert, " An Online Fraud Representative will be giving you a call shortly REPLY 1 To Proceeds With Placing The Call. At XXXXXXXX XXXX, a representative from Wells Fargo, using the following # - XXXX, My appointment was at XXXX XXXX, and being pressed for time. So I pulled over and went to my online banking for Wells Fargo under Menu and to the Security Center to double-check the number. It was one of several Wells Fargo numbers used for identifying reporting Fraud. Being short on time, I followed the instructions of the Wells Fargo employee on obtaining a refund for {$3500.00}. After ensuring it was a Wells Fargo number, I followed the instructions provided by the Wells Fargo representative. Finally, I went to my doctor 's appointment assured that Wells Fargo Bank is working to refund {$3500.00}. 

I was not feeling well after the doctor 's appointment and checked back online for a refund. After not receiving a refund, I contacted Wells Fargo Bank on XX/XX/XXXX using the same XXXX and spent an hour on hold. Finally, I advised the Wells Fargo representative of the situation and that Wells Fargo Representative defrauded me out of {$3500.00}. The representative on a recorded line advised me this was not the first call he had received with the same Fraud issue. I believe he said I was the sixth call about XXXX. That was concerning because I had not received any texts or e-mails alerting me of XXXX Fraud. 

I asked the following questions of the Wells Fargo Fraud Specialist 1. How did they contact me and know I was a Wells Fargo customer? They were unsure how they got my number and knew I was a Wells Fargo customer 2. How is a Wells Fargo number being used? The representative was surprised when I read the number back to them, and it was a Wells Fargo number. The representative expressed how the Fraudsters were getting more sophisticated.

3. How was an ordinary person without Fraud/Security knowledge to know the alerts and number representing Wells Fargo was a fraud? 
The reply was it was difficult because they were XXXX  a Wells Fargo number and using legitimate Wells Fargo alert text messages. I asked how Wells Fargo is not protecting their text messages and numbers? There was not a response to this question. 

After being shuffled around to various departments, I was able to get a fraud case opened for {$3500.00}. I sent the documentation showing the text messages and my call log showing the Wells Fargo incoming call using a verifiable Wells Fargo Number to the report phishing e-mail address as advised by the Fraud Representative. I took security a step further by ordering a new atm card, added a security question to my online account, and reviewed all of my XXXX contacts and transactions. I ended the call expecting a refund of {$3500.00} to my account. Still concerned, I contacted Wells Fargo again on XX/XX/XXXX, asking how could the Fraudster know my Wells Fargo information. The representative advised that the case was not entered correctly during that conversation, and I had ( 2 ) new cases numbers. I asked about the documentation I used with the old case number they assured me it was all moved to the new file. After being misled to believe it was still a Fraud case opened incorrectly. I did not know until I received the letter there was a difference. 
The representative then explained that Wells Fargo would investigate and get back to me in 10 days with an outcome, but still did not provide a difference in policy or that it was not a Fraud case anymore. 
I received a lackluster letter explaining how Wells Fargo ( paraphrasing ) could not reverse the funds and advised XXXX and submitted a request to the receiving Financial Institution to have the funds returned ; however, there was no guarantee of the return of the funds. Therefore, my claim was closed at this time. However, that is a misrepresentation because Wells Fargo and the receiving Financial institution was not intending on refunded the {$3500.00}. Then the letter was a standard letter where someone changed the date. It ended with a bunch of double talk about how I could obtain a copy of the research and further questions and get a copy of the documentation. 
I contacted Wells Fargo on XX/XX/XXXX and connected with XXXX. He contradicted the letter by saying the receiving institution was not returning the funds defrauded by a Wells Fargo representative ( recorded line ). I asked about the steps taken to refund the {$3500.00} and, then he advised me of Wells Fargo Policy. I questioned the representative on the last update to the XXXX online and how was I notified about the new update? Did Wells Fargo send me an e-mail, text message, a document in the mail? XXXX shared how Wells Fargo advised him of the policy update. I reiterated how Wells Fargo notified me of the updated policy change. Unfortunately, XXXX was not able to answer that question. 
Next, I asked for all the research and documentation regarding my claim. What was insulting XXXX told me it would take XXXX calendar days to receive the research documentation regarding the fraud claim ; it took ten days to investigate, conclude no refund, and the claim closed. Not one of the previous representatives from Wells Fargo mentioned the policy on XX/XX/XXXX, XX/XX/XXXX, and I believe XXXX. XXXX explained that he was not involved with that department and could not explain the lengthy timeline. I told XXXX, per my understanding, I was not the only Wells Fargo customer that this happened to, and Well Fargo retained the same number, and there was not an update to the message alerts. The letter did not even share how Wells Fargo is addressing the issue. 
My next question to XXXX was who was in charge of Wells Fargo Bank to file a formal complaint. XXXX advised he did not know but could get me to an Escalation manager who would address all my questions regarding my fraud on my account. 
Next, I talked with XXXX, the Escalation Manager, at XXXXXXXX XXXX on XX/XX/XXXX on a recorded line. I asked her the same questions I asked XXXX. How am I notified about the XXXX updated process? XXXX proceeded to tell me how Wells Fargo advised her as a customer. I explained it was great she shared her experience, but how did Wells Fargo inform me. XXXX could not tell me how Wells Fargo notified me of the XXXX policies changes. I asked her who I could contact about filing a formal complaint against Wells Fargo ; again, she did not know. XXXX advised I could reach out to the Wells Fargo Board. I explained my confusion. XXXX told me the escalation manager  would address my questions regarding my fraud claim. Everything I asked, XXXX she did not have the answer. When I asked her about removing XXXX from my account, her advice was to go online, and I would find that information. I had to probe further to get an answer on removing XXXX from my account. 
Most importantly, I asked, XXXX how as an ordinary person would I be able to tell it was not Wells Fargo contacting me through message alerts and a Wells Fargo telephone number. I appreciated her honesty when she stated, " I would not know she's trained to spot fraud, and as an ordinary person with text messages alert and actual Wells Fargo telephone number, I would not know. Then, realizing XXXX could not answer any of the questions regarding my fraud claim, I asked for a copy of all of the transcripts from my calls with Wells Fargo ; again, she did not know how to provide me with this information or how I could obtain these copies. 
XXXX could open a complaint with the Executive Office to provide answers and further assist me regarding my fraud claim, and someone would reach out to me within two days. I confirmed with XXXX, no later than XX/XX/XXXX, I would receive an e-mail Complaint # XXXX. 
I have stood by Wells Fargo through all the issues with fraudulent practice against their customers and because I felt this is one bank that will do right by their customers. To find out that XXXX banks, including Wells Fargo, call it scam vs. fraud because there are no laws, processes, or policies set up to ensure the security of their customers. I used XXXX because it is on my Wells Fargo site and trustworthy. After doing some research discovered what happened to me was not an isolated incident. 

I asked the board to reverse the decision made and return the {$3500.00} that Wells Fargo defrauded ; it was a deliberate misrepresentation that caused me to suffer damages in the form of a loss of money. The representatives and escalation manager I spoke to all agreed an ordinary person like myself would not have known it wasn't Wells Fargo. Due to this incident, I have lost trust in all forms of communication by Wells Fargo and Wells Fargo because the number that was compromised and used to defraud me is still on the website. The text messaging alerts have not changed. I tested it by sending money on separate occasions to see if Wells Fargo attempted to help their customers. What would have been helpful in the standard letter sent to me denying the return of my money is to offer advice on how Wells Fargo would protect this from happening in the future and how I could appeal this decision. 
Nor did this letter point me to the policies and procedures used to make this decision or the latest updated XXXX policy with Wells Fargo. I had asked how to find this information. When was I notified, and none of the Wells Fargo representatives could tell me how to find this information or inform me of any changes. It is my fault, and by Wells Fargo interchanging the word Scam for Fraud, my money is at the mercy or discretion of the Banks who know what is happening. Still, by using scam, my money is no longer covered by Fraud rules and governance afforded to me under Fraud laws. 
I also want the board to provide me with a copy of all the research sets and documented measures Wells Fargo took to return my money and the transcripts from each of the conversations I had with the Wells Fargo representatives, including the escalation manager. I want to know why Wells Fargo can not use Chargeback or the Electronic Funds Transfer file - Regulation E ( I was induced by a WELLS FARGO representative ) in my case it is appropriate to use it. I would appreciate a copy of XXXX and Wells Fargo 's most current policies ( per the representative is XXXX of XXXX ). Finally, I want to know Wells Fargo 's steps to educate their customer. I advised the initial representative that they had received at least six other calls for the same concern and fraud. 

An ordinary person uses fraud and scams to have the same meaning. Wells Fargo, at a minimum, should educate their customers about the difference and train their representatives on the location of pertinent information about policies and notification dates. At the very least, show concern for your customers by adding a pop-up alert so when customers open an online app advising about the FRAUD, hang up and contact Wells Fargo and send out a TEXT Alert and identify the Wells Fargo numbers used. 

More importantly, I was induced to XXXX my funds by WELLS FARGO- This falls under the Electronic Funds Transfer Act - Regulation E. Please see the attached documents showing the Wells Fargo Text and call log showing an active number still being used by WELLS FARGO. What is confusing some people get their money back and others don't? How is that not discrimination what are these people submitting her sending into Wells Fargo and their claim is approved and money refunded?

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