Consumer complaint received 2025-10-17 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: WELLS FARGO & COMPANY
State: WA

Complaint narrative:
On the evening of XX/XX/year>, around XXXXXXXX XXXX we were the victims of a robbery during which the perpetrator stole our personal information and gained full access to our financial accounts. Following the incident, the individual conducted a complete account takeover, including access to our Wells Fargo mobile banking and online credentials. 

Between XX/XX/XXXX at approximately XXXXXXXX XXXX and XX/XX/XXXX around XXXXXXXX XXXX, the perpetrator made numerous unauthorized transactions, including ATM withdrawals, credit card charges, and other fraudulent activity. During this same period, Wells Fargo sent over 10 email notifications reflecting multiple account changes and declined transactions. These included changes to my PIN, daily withdrawal limit, and wire transfer settings. 

At XXXXXXXX XXXX on XX/XX/XXXX, the perpetrator initiated and completed a {$17000.00} wire transfer from my account to his own. At XXXXXXXX XXXX, I contacted Wells Fargo via the hotel phone to report the fraudulent activity and dispute all unauthorized transactions. At XXXXXXXX XXXX I received an email confirmation with a fraud reference number, verifying my report and the phone call with Wells Fargo. Despite my timely report, Wells Fargo did not stop or freeze the wire transfer. 

From XX/XX/XXXX through XX/XX/XXXX, I spoke with Wells Fargo representatives on multiple occasions to provide updates, police report information, and to follow up on the status of my claim. The following are the documented call times : XX/XX/XXXX : XXXX XXXX and XXXX PM XX/XX/XXXX : XXXX XXXX XXXXXX/XX/XXXX : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  ( at my local branch ) Throughout these communications, Wells Fargo acknowledged that a complete account takeover had occurred. They subsequently reversed several fraudulent transactions, including wire transfer fees and other unauthorized debits made between XX/XX/XXXX and XX/XX/XXXX. However, despite confirming that the account takeover was genuine, Wells Fargo declined to reverse the {$17000.00} wire transfer, claiming that the transaction was authorized. 

Given the circumstances and XXXX XXXX acknowledgment of the unauthorized access and fraudulent activity, I believe this incident falls under Regulation E, which provides consumer protection for unauthorized electronic fund transfers. The decision not to reverse the wire transfer appears inconsistent with these protections, particularly in light of the confirmed account compromise and the prompt reporting of fraud on my part.

I respectfully request that Wells Fargo reconsider the decision regarding the {$17000.00} wire transfer and apply full protection under Regulation E, consistent with their own findings and federal consumer protection standards.

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