Wells Fargo Customers Allege $83,000 Swiftly Depleted from Their Accounts
Two customers of Wells Fargo are speaking out against the banking giant after scammers stole tens of thousands of dollars from their accounts within minutes. Jolinda Crocker, while teaching at her music school in Italy, had $60,000 stolen from her account. She received a text message from the bank asking her to verify two transactions, one for $24,973 and another for approximately $10,000. Crocker promptly called the bank, filed an online fraud report, and believed the issue was resolved. However, a week and a half later, the bank accused Crocker of initiating the $60,000 in transactions herself, despite her login history showing logins from both Italy and California on the same day. Crocker has spent the past two years fighting the bank to recover her money, feeling frustrated by their response. Similarly, Judy Barr lost $23,865 to scammers posing as Wells Fargo’s fraud department. The scammers somehow obtained her social security number and personal banking details, and when they sent an authorization code to her phone and asked her to repeat the numbers, she complied. Wells Fargo now claims that Barr essentially initiated the transactions herself and refuses to reimburse her. The bank is facing lawsuits from numerous customers who argue that the financial giant has inadequate security measures, fails to properly verify large transactions, and shows little concern when fraudulent transactions are reported.