Consumer complaint received 2021-12-04 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Fraud or scam — 
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
On Monday XX/XX/2021, I received a text message alerting me about an attempt of Wells Fargo XXXX transfer for the amount of {$3000.00} it was asking me to reply yes or no. Before I was able to reply I had an incoming phone call from Wells Fargo 's customer service phone number, the number that is on the back of my debit card, I verified that before I answered. Being sure it was Wells Fargo I answered, then the person said he was from Wells Fargo 's Fraud Department and explained there was a money transfer for {$2000.00} and another for {$1000.00} and a purchase at a XXXX in Florida using my debit card number which he provided, and asked if I had done the transactions, I quickly said no. Then he said they were processing and in order to reverse the transactions I had to send the money back to myself, he guided me to add my First and Last name and phone number, I did. This person knew my address which is where he said I would receive a new debit card. He knew my full name, account number, my phone number, the last 4 of my social security number, and my debit card numbers. He sent me a code to my phone and asked to say it back to him, and I did. He also said the fraudster with the name of XXXX had tried changing my online banking password twice. After guiding me to reverse my money back into my account he said I would receive my new debit card in 5-7 business days, and my money would appear in about 24 hours but some cases could take up to 72 hours and that he would call me back in three days to have me updated. He didn't call back, so that day on XX/XX/XXXX I called Wells Fargo and asked to get an update on what was going on, then that was were they told me that they didn't see any fraudbnotes of any kind and had me explain what had happened then the lady said that was scam, but I explained it wasn't because it was wells Fargos phone number then she said scammers now do something where they fake the caller id. I couldn't believe what I was hearing. they transferred me to fraud dept. they took my report, and said it would take 10 days to resolve. I called on day 5 and they said it was still in progress, but they would have an answer by XX/XX/XXXX without counting XXXX day. I then called XX/XX/XXXX at XXXX pm and they said it was still in progress I explained to her, someone had told me it would be ready by XX/XX/XXXX, she said that it depends on the time of day I reported this. If I had reported in the afternoon then that day wouldn't count, I reported around XXXX.She said it should be done by the next day Friday. So I called on Saturday and she told me the case was closed and that wells fargo had sent me a letter. She read me the letter saying I had authorized the transaction or someone with my username and password authorized the transaction. If I had question I should contact fraud dept. phone number. I did contact them I asked the woman I wanted to know where my money had ended up, if I had sent the money to me, and on my statement that's what it appears. and for XXXX 's process to send money you type in the persons name, last name, and phone number. she read my claim report out loud then I asked her where my money had ended then she said it had ended in a different account and she asked me if I had received any information on the account I was sending to while sending my money, and of course I did not, she then asked me if I was reimbursed my money, I said no. When she said my money ended up in a different account I asked her well can't Wells Fargo investigate that other account and see who's account that is a solve this and she said well yes and she then said needed a few minutes to read the notes on the investigation again. Throughout the whole phone call she seemed very confused and didn't know what to say. after reading the notes she said I had authorized the transactions I said yes but federal law under regulation e protected me in this type of fraud she said the banks don't see this as fraud, and that banks focus on some stuff to tell whether it was fraud or not. I asked her what did consider fraud and she said she couldn't tell me I then told her it was fraud indeed because I was tricked by someone impersonating wells fargo to send my money and I didn't authorize the transactions to a stranger I authorized them to myself. I mentioned cfpb saw this as fraud because I was induced to send my money then there was a very long 30 second silence from her part then she just said I understand after that I was able to hear her typing on the computer for 5 seconds and then she hung up on me. she didn't try calling back so I called again and the person who answered said the case was denied and there was no way to consider the case anymore, I asked to be transferred to a manager, or supervisor to explain the situation and he said there was nothing to be done anymore and the only thing he was able to do was send me a written documentation of the case. Banks need to adjust what they consider fraud because it seems like fraudsters know what banks consider fraud and what they will NOT INVESTIGATE. for fraudsters its as easy as tricking customers like me and sending our money into another account right in front of bank 's eyes and get away with this because of the big door banks have open for them. Wells Fargo did send me a letter thanking me for reporting my checks lost or stolen, that was clearly not what I reported. I don't own checks, and my statements are delivered via online.

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