Consumer complaint received 2024-08-11 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Fraud or scam — 
Company: WELLS FARGO & COMPANY
State: MO

Complaint narrative:
On XX/XX/XXXX, I was contacted by phone by individuals claiming to be Wells Fargo Bank employees with granular knowledge about my checking account. I was informed by said individuals that a {$XXXX} charge was attempting to be processed from my checking account. I tried to check my mobile banking application and could not log in, trying multiple times with my login information. I was told that was because of the attempt to withdraw funds from my account. I hung up and immediately called Wells Fargo to inform them that suspicious activity was going on, and to not authorize any transactions out of my accounts. Nonetheless, the {$XXXX} transaction was fraudulently approved by my bank that night, after I notified them in real time, as a result of my online banking account being compromised. Rather than stopping the fraudulent transaction, the bank honored it despite the suspicious nature of the charge and closed the claim without contacting me. I was told that I would receive resolution on my case number that I was given while on the phone with a Wells Fargo representative the night of the XXXX. Also, on the night of XX/XX/XXXX, I issued a fraud alert on XXXX and XXXX credit reporting agencies and requested that my credit file be locked, and to notify me of any further attempts to open accounts or move funds. On XX/XX/XXXX, the transaction was posted in my checking account transaction history as authorized on XX/XX/XXXX with the bank transaction number and last XXXX digits of my debit card number. In a letter dated XX/XX/XXXX, and received by me on XX/XX/XXXX, claim # XXXX, I was informed that the transaction was " authorized or that a processing error did not occur. Please consider your claim closed. '' On XX/XX/XXXX, I filed an FBI report for wire fraud. The same day, I called Wells Fargo bank to dispute the resolution of my claim and to try to obtain more information. As none was forthcoming, I asked them to reopen my claim and elevated the dispute with Wells Fargo 's Line of Business Executive Office for further review. I spoke with another representative at that point and was told that they would attempt to reopen the claim. I informed them that I expected to hear from them within XXXX hours. During this conversation with the elevated service representative, he said that they received authorization for the fraudulent transaction. I informed them that I did not receive any request for authorization via text, phone call, or email and I did not authorize any transactions. It would be apparent from my account history that I do not have, and would not make, large transactions of this nature and it is inconceivable that I did not receive a phone call or further attempts from Wells Fargo Bank to verify this suspicious transaction. 

On XX/XX/XXXX, I received an email from XXXX simply stating that they would respond within 10 days, providing me with a new claim number XXXX. The next day, XX/XX/XXXX, I received a phone call from a Wells Fargo XXXX representative in response to the XXXX hour deadline I had demanded from them on XX/XX/XXXX. I was told only that they would continue to investigate and that once a transaction is processed, they can not undo it. I again reiterated that I did not authorize this transaction. She did not provide me with any further information despite my continued request for more information about why this happened in light of my notification in real time to prevent the fraudulent transaction from posting. 

On XX/XX/XXXX, I called Wells Fargo bank with the new phone number and case number contained in the email I received on XX/XX/XXXX, mentioned above. Again, I requested more information and repeated that I had not authorized this fraudulent transaction, and had notified Wells Fargo immediately that fraud was being attempted. My own investigation in the pursuit of more information as to what courses of action to take indicates that my checking account was compromised via my debit card in my XXXX XXXX. The night of the fraudulent transaction, I removed my debit card from my XXXXXXXX XXXX while on the phone with Wells Fargo, as I was suspicious that was how my account was compromised. The Wells Fargo employee deflected to XXXX. When initially asked about the status of my case number and if there was any further information including a person to speak to on a direct phone line, he initially stated that the case was still pending assignment. Later, when pushed about the lack of action on the behalf of the bank, he suddenly stated that it had been assigned to another representative, whose full name he did not disclose with an extension number. This new representative would not be able to speak with me until at least Monday, XX/XX/XXXX. This is 6 days after receiving the email from their Line of XXXX XXXX XXXX that the issue would be looked into, starting the clock again on the 10 day time frame and delaying further action by me. The Wells Fargo employee kept arguing that the transaction was authorized, despite my continuing assertion backed up by factual evidence that it was not, and that their only course of action can begin after the fraudulent transaction goes through. The transaction was fraudulently authorized XX/XX/XXXX by Wells Fargo Bank despite the fact that I was on the phone with a Wells Fargo representative alerting them to fraudulent activity in real time. This makes it impossible for them to assert that this transaction was authorized by me, as I was on a recorded line the entire night asking them to stop the transaction, freeze my accounts, and send me a new debit card. I was told again to wait to hear from their XXXX during this call on XX/XX/XXXX. 

This transaction eliminated my entire life savings. This negligence and delay tactics on the part of Wells Fargo Bank have cost me considerable time, resources, and money in addition to the fraudulent {$XXXX} money transfer to persons unknown to me. I have contacted my state and local representatives, as well as filing a complaint with the Missouri Attorney General 's office, the Federal Trade Commission, and the Office of the Comptroller of the Currency which regulates Wells Fargo Bank.

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