Consumer complaint received 2025-07-16 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem — 
Company: WELLS FARGO & COMPANY
State: NY

Complaint narrative:
Dear Consumer Financial Protection Bureau, I am writing to report that a fraud claim that I filed with Wells Fargo on XX/XX/XXXX XXXX, was unfairly and unjustly managed. I am writing to bring awareness to this case, as I believe that Wells Fargo is mishandling claims involving unauthorized and fraudulent XXXX transactions. In my case, refusing to recover {$3500.00} that was taken from me in a case, as identified by the XXXX XXXX XXXX, as larceny, by a perpetrator who has 5 identical cases of XXXX against him. 

On XX/XX/XXXX XXXX, around XXXX XXXX  I was sitting in XXXX XXXX XXXXXXXX XXXX XXXX, NY, when I was approached by two young men asking for donations for their basketball team to purchase new uniforms. They said they couldnt accept cash, and when I asked for their XXXX or XXXX information, one man told me he could put it in my phone himself. Before I could refuse, he took my phone from me and started making a transaction on XXXX without my authorization. During this time, the other young man started talking rapidly, trying to distract me. After about 1 minute, I was able to snatch my phone out of the mans hand and saw that he had sent himself {$3500.00} from my checking account and was in the middle of making a second large transaction to a different contact. The two young men ran away, and I immediately called XXXX. Immediately after getting off the phone with XXXX, I called Wells Fargo to submit the fraud claim ( Claim # XXXX ). That same evening, I went to the nearest precinct and filed a police report ( Report # XXXX ). 

On XX/XX/XXXX, Wells Fargo sent a letter in the mail stating that they had denied my fraud claim and the case was closed, which I did not receive until XX/XX/XXXX, after returning home from being out of town. I did not receive email communication as I was told I would by the person who initially received my claim. Upon receiving the letter on XX/XX/XXXX, I promptly faxed the police report to the Wells Fargo fraud claims department. I received no contact from Wells Fargo about the status of my claim or if they had received the document. On XX/XX/XXXX, I called to confirm that my document had been received and to get an update on the status of the claim. I was informed it had been received, but they were unable to reopen the case. 

The night of the fraudulent incident, Detective XXXX XXXX XXXX, the officer handling my case, informed me that this scam had been happening in the parks recently. He stated that if I filed a fraud case with my bank, I should get my money back, as hed seen the other numerous victims of this crime receive. I informed him that I had already filed the claim. For further information, you may contact Detective XXXX at XXXX. 

On XX/XX/XXXXXXXX, I submitted a formal complaint to the Wells Fargo Business Executive Office. I received correspondence and confirmation that my case was being reevaluated ( Case # XXXX ). I also submitted a letter written by Detective XXXX detailing the crime committed against me and the larger case at hand. On XX/XX/XXXX XXXX, I received a call from Escalations Representative, XXXX XXXX, informing me that Wells Fargo would not be taking the loss and returning the {$3500.00} that was stolen from me. The reasoning he stated was that I used Face ID authentication to open the Wells Fargo app. My phone was taken from me after I had already opened the app. This is not in any way an indication that I authorized the transaction of {$3500.00}. I did not type in the recipient details, I did not type in {$3500.00} to be transferred, and I did not authorize this transaction. My intention was to donate $ XXXX {$10.00} to the supposed basketball team, but then my phone was taken, and an unauthorized transaction occurred on my XXXX account, which was out of my control. 

I believe that Wells Fargo is mishandling unauthorized/fraud cases that are being committed through XXXX, using authentication as a blanket reason to not take a loss for the bank. Which, in reality, is a drop in the bucket for a XXXX bank. {$3500.00} is not a drop in the bucket for me, a hard-working wellness educator and yoga teacher living in XXXX XXXX XXXXXXXX XXXX I am distraught and deeply disturbed at the banks mishandling of this case and lack of concern for a loyal customer of 16 years. 

I have been a loyal and model customer with Wells Fargo since XXXX, always paying my credit card bills on time and keeping a healthy balance in my checking account. I have never been treated so unfairly or with such little regard. {$3500.00} of my earnest, hard-earned money was stolen from me in an unauthorized transaction in a traumatic crime and scam in a XXXX XXXX XXXXXXXX XXXX , verified as such by the XXXX XXXX XXXX XXXX XXXX and XXXX Precinct Detective Squad as grand XXXX  as per the police report. 

I implore you to investigate Wells Fargo in their mismanagement of my case, and the ill-conceived conclusion that a victim of a crime was responsible for what was taken from her. I am hopeful that the CFPB will bring this case to justice and improve future handling of unauthorized, fraudulent XXXX transactions.

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