Consumer complaint received 2025-08-18 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Fraud or scam — 
Company: WELLS FARGO & COMPANY

Complaint narrative:
b'Dear Sir/Madam,\nWe are writing to formally request immediate clarification and documentation from Wells Fargo Bank, N.A. (WELLS FARGO) regarding your role in the attempted recovery of funds fraudulently transferred by XXXX XXXX XXXX XXXX to accounts at XXXX XXXX falsely held under the name of XXXX XXXX XXXX XXXX).\nAs previously reported, XXXX  was the victim of a fraud involving social engineering techniques, confirmed and recorded through FTC Complaint No. XXXX on XXXX XXXX XXXX XXXXn the same date, XXXX XXXXotified its financial institution in XXXX, XXXX XXXX XXXX XXXX, which promptly issued a formal request to WELLS FARGO  as the intermediary U.S. bank  to initiate a funds recall and request that the receiving bank (Truist Bank) block and return the transferred funds.\nThe fraudulent wire transfers were as follows:\nUSD XXXX - XXXX XXXX XXXX XXXX - XXXX XXXX XXXX XXXX XXXXDespite XXXX notification to WELLS FARGO on XXXX XXXX XXXX XXXXe have been informed that XXXX XXXX only received the blocking/recall request on XXXX XXXX XXXX  a delay of 22 days  by which time the beneficiary account allegedly held only a residual balance. No disclosure has been made as to the value of that remaining amount.\nIt is our understanding that, upon receiving the fraud notice from XXXX WELLS FARGO was expected to act with due diligence and dispatch in transmitting the recall/blocking request to XXXX XXXX. Any delay in this process may have severely compromised the recovery of the funds.\nPursuant to  4A-211(b) of the Uniform Commercial Code (UCC), a communication cancelling or amending a payment order  including a fraud-induced wire transfer  is effective if received at a time and in a manner that affords the receiving bank a reasonable opportunity to act before the order is accepted. This provision sets forth a clear standard of diligence that intermediary banks must observe when handling time-sensitive fraud notifications.\nFurther, UCC  4A-211(c)(2) provides that cancellation of a payment order after acceptance by the beneficiarys bank may still be effective if the order was unauthorized  including where it was the result of fraud. This underscores the importance of prompt communication by WELLS FARGO to the receiving institution to enable effective action while funds remain available.\nThe discrepancy in communication dates raises serious concerns, particularly in light of XXXX XXXX claim that the account held only a residual balance when the block was implemented  without specifying the remaining amount. Moreover, Truist Bank has requested that XXXX  sign an Indemnification Agreement releasing both Truist and WELLS FARGO from liability, despite the lack of transparency as to the timeline or funds status.\nShould you require any additional information or clarification, please do not hesitate to contact us. We can be reached at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

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