Consumer complaint received 2025-05-15 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
XX/XX/year> Wells Fargo Bank failed to verify the person requesting the XXXX  and Wells Fargo Direct Pay service on claim number XXXX prior to enrollment which led to unauthorized transactions and allowed a breach of my personal confidential information. 
XXXX ) XX/XX/year>, Wells Fargo mailed an XXXX without my consent/request. 
XX/XX/year>, Wells Fargo letter does not indicate who requested the service, but it verifies the person being enrolled in is me. There was no reason for concern on my part as the letter is from Wells Fargo, the XXXX was from a Wells Fargo address and the service appeared to be a new security service. I was unaware the XXXX had to be requested, and the letter does not state the same. 
XXXX ) XX/XX/year>, I received a call from a Wells Fargo number XXXX wanting to verify if I had received the XXXX  because it was a security device. No information was asked for, i.e. pin, security code, etc., or personal information nor did I supply any information. 
XXXX ) XX/XX/year>, in the morning I called Wells Fargo XXXX. I informed the customer service representative that I did not request the XXXX or direct pay enrollment and that I had received calls from Wells Fargo Bank number XXXX. The customer service representative was not able to verify who requested the XXXX and advised I should visit a bank location. 
XXXX ) On XX/XX/year>, in the morning I visited the XXXX Wells Fargo Branch and spoke to Bank ManageXXXX, XXXX XXXX, who verified the XXXX and the mailing address of the facility along with the XXXX number being a Wells Fargo number. 
XXXX ) XX/XX/year>, fraud consolidated claim number XXXX was created due to : a. {$15000.00} online transfer from business checking ending in XXXX b. {$20000.00} online transfer from business line of credit ending in XXXX XXXX {$34000.00} WF Direct Pay -Payment Tran Id XXXX XXXX ) XX/XX/year>, claim number XXXX Wells Fargo denied based on : Our research indicates you received the benefit of the proceeds of the online activity and the proceeds either remain in your linked account or were used by you to initiate subsequent authorized activity. 
XXXX ) XX/XX/scrub>XXXX XXXX XXXX case number XXXX initiated Wells Fargo case number XXXX. 
XXXX ) XX/XX/year>, Wells Fargo denied case number XXXX based on : the transactions were authorized by you or someone authorized to use your account information. 
XXXX ) XX/XX/year>, Well Fargo case number XXXX opened and pending XXXX ) Despite the pending claims Wells Fargo continues to charge fees and penalties on the disputed line of credit account. 

Further fraudulent account activity has taken place out of XXXX that I filed claims, which have been investigated and refunded ; I did not open the claims for reimbursement but to show that fraud has taken place and continues since the breach and Wells Fargo continues to do nothing to flag suspicious transactions. 
Wells Fargo continues to disregard the breach that first occurred when they sent the unauthorized XXXX, initiated direct pay, gave access to my business banking accounts and personal information. I had two-way authentication on my cell phone that should have alerted me of any transaction. Whether the breach was internal Wells Fargo or external, it was Wells Fargo who failed to protect my account and information which ultimately led to the funds being fraudulently transferred and has led to my personal information/identity being compromised. 
A complete thorough investigation should be made starting from the first event, the breach that allowed someone to order an XXXX  and how the funds were transferred, as they are not in a linked account, nor did I benefit from it.

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