Consumer complaint received 2022-02-25 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Fraud or scam — 
Company: WELLS FARGO & COMPANY
State: TX

Complaint narrative:
I've been a loyal customer to Wells Fargo for 10 years with no issues or complaints until recently. I fell victim to fraud with a very elaborate scam made through XXXX, an app thats automatically added into our accounts as a method of instant money transactions. On XX/XX/2021, I received a text message from my bank, Wells Fargo, asking to confirm or deny an attempted transaction for the amount of {$1500.00}. I replied, NO. Minutes after, I received a call from a Wells Fargo official line ( XXXX ). This person claimed to be a Wells Fargo representative, along with having all my personal banking information such as my card number, account number, and exact amount and place of my last made transactions. ( Information only my bank is supposed to have and behold safely away from any possible fraudulent exposure ). This person then explained to me that someone had stolen my bank information and was pretending to be me to send money out of my account through XXXX. He informed me, the only way to reverse these transactions was if I transferred the money back to myself from the mobile app. This sounded odd to me because my bank has never called to ask for something like this before. He then explained how XXXX was a separate service, and they had no access to control or stop these transactions themselves. Using fear and pressure, I was persuaded on making four different transactions ( two for {$1000.00} and two for {$500.00} ) with the grand total of {$3000.00}. I was told that these transactions would result in reversing the withdrawal that was trying to be taken without my permission. 

After the last transaction was made, the call was simply disconnected. My heart dropped and I instantly called the bank right back. This time a real Wells Fargo representative answered. I explained the situation ; I was placed on hold and then told the bank had no record of my call ; it wasnt them that called me. They then explained the transactions were still pending and being transferred to a XXXX account that had been made under my email and name. Assuring me they had contacted XXXX and XXXX about the fraudulent transactions, they said to wait from 3 to 5 business days for an answer.

I understand the responsibility of me allowing these transactions. My concern is that Wells Fargo is failing to see they are the ones that got hacked and I'm the one paying the consequences for it. Their lines got hacked and their customer information got leaked, and therefore me trusting my bank and their use and protection of my account and personal information, I got tricked into thinking I was speaking to my own bank. 

Either my money was stolen via Wells Fargo employee, or the system was completely hacked and I'm suffering the consequences of it. Neither of those two options happen to leave me responsible for the disappearance of my money. 

I've contacted the chain of commands within Wells Fargo since the minute this incident happened and all efforts from Wells Fargo employees have been completely subversive. I honestly dont believe they did or even tried to do anything to stop this, in fact they allowed it. 

Wells Fargo refuses to take responsibility for these actions by explaining XXXX is a separate service, and they have no control over it, when in fact XXXX is owned by seven of Americas largest banks ( Wells Fargo being one of them ). So how did this still happen? Why would XXXX allow an account to be open with just a name and email? Why did XXXX approve these fraudulent transactions after being contacted and alerted of fraudulent activity? None of this makes sense ; nor is it fair for people like me, that have been made a victim of this bank, to just allow and accept as my own mistake. 

I strongly believe this violates the code of banking conduct and ethics. I've taken this to multiple escalated complaints and even to the board of directors and XXXX XXXXCEO XXXX XXXX XXXX. Contacting the Consumer Financial Protection Bureau is one of my last and most hopeful reach and scream for help. I am in the dark, with no guidance or knowledge on how to deal with this very unexpected distress.

This situation has taken more than just my winter savings, it's taken my peace and joy of life. With XXXX and XXXX I haven't properly slept since this nightmare started. I was forced to sell my vehicle to sustain myself from this gigantic loss, which left me mentally drained and very physically tired. All I'm asking is for consideration and responsibility on getting back what's mine and LOST IN MINUTES, by my bank ( Wells Fargo ) that allowed this to happen by a service they own ( XXXX ) to a bank they have total and full communication with ( XXXX ). 

I have been building a timeline with exact days, time frames and names of people I've spoken to, along with all my evidence and proof this was an obvious scam from within the bank. If no one has the power to stop this, it will continue to happen because no obvious consequences are being pushed on Wells Fargo. All other banks are taking responsibility over these situations by returning the money to their customers EXCEPT Wells Fargo. I really need your help. 

Sincerely, A very concerned victim of this banking system.

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 monetary relief