Consumer complaint received 2026-04-27 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: MN

Complaint narrative:
CFPB Complaint ( From XXXX XXXX XXXX perspective ) Description of what happened I am writing to report that I was the victim of a financial fraud scheme involving impersonation of law enforcement. I was contacted by an individual who claimed to be from the FBI and told me that my assets were at risk due to an investigation. I was pressured into urgently moving my money to protect it. Under this false and frightening information, I was instructed to withdraw funds and obtain a cashiers check in the amount of {$8900.00}. I was then directed to deposit this money into a Wells Fargo account under the name XXXX XXXX ( account ending in XXXX ). The scammers used the phone number XXXX and individuals identifying themselves as XXXX XXXX or XXXX XXXX. They created urgency and fear, telling me my accounts could be frozen if I did not comply immediately. What happened after the transaction After I completed the deposit, my family and I quickly realized I had been scammed and contacted Wells Fargo immediately. At that time, we were informed by a bank employee that the funds had not yet been withdrawn from the receiving account and that a fraud hold or recovery action should still be possible. Despite this, no hold or recovery action was taken. We were later told by Wells Fargo that nothing could be done because the transaction was considered authorized, even though it was clearly made because I was misled and pressured by individuals impersonating federal authorities. Why I am filing this complaint I am requesting a review of Wells Fargos handling of this situation because : * The funds were still in the receiving account when the bank was notified * We were told a hold or recovery action may still have been possible at that time * I was acting under false information and coercion from individuals impersonating law enforcement * There were clear red flags of fraud in the transaction * I lost {$8900.00} as a result of this scam I believe there was an opportunity to prevent or reduce this loss, and I am asking for a review of why action was not taken when the fraud was reported. What I am requesting I am requesting : * A full review of how my fraud report was handled * An explanation of why a hold or recovery attempt was not made when funds were still available * A review of whether proper fraud protection procedures were followed * Assistance in recovering the funds if possible * Consideration of reimbursement due to fraudulent inducement and lack of intervention Additional details * Name : XXXX XXXX XXXX * Amount lost : {$8900.00} * Receiving bank : Wells Fargo * Scam phone number : XXXX * Receiving account name : XXXX XXXX ( account ending in XXXX ) Closing I have also reported this incident to local law enforcement and the Federal Trade Commission. I am submitting this complaint because I believe I was targeted by a sophisticated scam and that timely intervention may have prevented this loss.

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