Consumer complaint received 2025-11-13 00:00:00
Product: Money transfer, virtual currency, or money service — Money order, traveler's check or cashier's check
Issue: Fraud or scam — 
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
I am filing this complaint regarding Wells Fargo 's mishandling of a fraud case involving my account. Despite promptly reporting the fraudulent activity and providing all requested documentation, the bank has failed to take appropriate action to protect my funds and resolve the issue in a timely and transparent manner. 

On XX/XX/year>, I was contacted by what appeared to be the banks fraud department regarding suspicious activity on my account. The communication mirrored legitimate messages Ive previously received from the bank, including the same wording and format. Ultimately, I was scammed into depositing a cashier 's check for {$30000.00} to a fraudulent account. I immediately contacted Wells Fargo as soon as I realized it was a scam, which was merely XXXX hours after the fraudulent transaction was made. 

During that call, I informed the bank that a {$30000.00} cashiers check had been deposited into what I later discovered to be a fraudulent account. The representative confirmed that the receiving account was also with Wells Fargo and stated that the transaction was still pending. However, instead of stopping or reversing the transaction while it was pendingas I requestedthe representative advised that there was nothing they could do at that time but she said she would " flag '' the check as fraudulent. I was then advised to call Wells Fargo 's Loss Prevention Department or visit a local bank to stop the payment. 

At the local bank, I was informed by a banker that the funds unfortunately processed but upon looking into the suspect 's account, he can see that {$27000.00} of my funds are still remaining. However, they are unable to retrieve the funds since I authorized the transfer. He told me that these types of scams are happening more and that it's basically a " legal loophole ''. His advise is to just take the loss since the scammers could be anybody and might not even be in this country. I asked if they would at least investigate the fraudulent account and who I need to contact to request this. The banker 's response is that the investigation will be launched automatically by the fraud department since Wells Fargo had to close my compromised accounts. I was told to expect them to reach out for additional details and in the meantime, they will be placing a hold on the suspect 's account to review its legitimacy. 

The following morning, I contacted Wells Fargo for an update on the investigation that was promised. The agent and her supervisor both confirmed that the case was closed and that no investigation was conducted since I authorized the payment. I pleaded to have my case investigated given the large amount that was taken and the fact that there is an account with Wells Fargo conducting fraudulent activities. Their response was quite dismissive and lacked any urgency. To date, the bank has failed to provide a clear written explanation or any meaningful resolution. 

This situation has caused me significant financial and emotional distress. I believe the bank failed to take prompt action to prevent loss when notified of the fraudulent activity, properly investigate and communicate the status of my claim, and adhere to reasonable standards of care in protecting consumers from fraudulent activity within their own banking network.

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