Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #9998902
Complaint Overview
Complaint ID: 9998902
Company: Wells Fargo & Company
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Fraud or scam
State: California
ZIP Code: 940XX
Date Received: 2024-09-03T12:00:00-05:00
Date Sent to Company: 2024-09-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/XXXX, a fraudster successfully infiltrated our Wells Fargo bank account, creating a payee under my name, XXXX XXXX, albeit we later discerned the actual name was different ( XXXX XXXX, someone I don't know ). Following this, we were contacted to wire {$XXXX} to the said payee to prevent the wire from executing, under false pretenses. Notably, the call originated from the customer service number displayed on the reverse side of our debit card, which instilled trust in us regarding the authenticity of the caller. He was also able to state the last few transactions that we had done on the card. This is even though we had the card in our possession. Then he rattled off a few more recent transactions that he claimed were denied as fraudulent and we could not see them on our account. His ability to call from the CS number at Wells and confirm recent transactions built trust with us which he used to defraud us. The funds were consequently transferred to another Wells Fargo account. However, within XXXX minutes post-transfer, we realized the discrepancy upon identifying the actual name on the wire transfer. We immediately contacted Wells Fargo 's fraud departmenta call recorded for quality and service assurance. The representative assured us that the transaction would be halted, given the recipient bank was also Wells Fargo. We did receive a call from the fraud department to ascertain the unintended nature of the {$XXXX} wire transfer, affirming it was not meant for an acquaintance. We kept calling and reaching out. On XX/XX/XXXX, almost 2 months after the fraud, Wells Fargo said they were able to retrieve {$XXXX} from the account. I find this unacceptable. If the fraudster was another Wells Fargo accountholder, and they were able to access the account after XXXX months, they surely had the ability to access that account sooner and take action as shared the customer service personnel at Wells Fargo ( that call was recorded for quality assurance ). I would like to receive the remaining balance of my account and would also like to know if Well Fargo had conducted a proper KYC before granting that fraudster an account. In addition, have they taken any legal actions against the perpetrator of the fraud or is that person defrauding others as well? I hope you can help me achieve better results on this. Best, XXXX
Frequently Asked Questions
What is Complaint #9998902 about?
Complaint #9998902 was filed against Wells Fargo & Company regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2024-09-03T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Wells Fargo & Company?
Yes, visit the Wells Fargo & Company company profile at readthecomplaint.com/company/wells-fargo-company to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.