Wells Fargo Bombshell! Lawsuit Alleges The Bank’s Own System Flagged The Scam That Defrauded Over $180,000 From Senior Citizens

A Wells Fargo bombshell lawsuit has been filed by a pissed off Wells Fargo customer.

The suit alleges Thomas Murrer was conned out of more than $30,000 by scammers. Murrer also claims that the bank’s anti-fraud security checks are inadequate.

Murrer states crooks targeted him posing as Wells Fargo’s fraud department employees. The fake employees tricked him into handing over personal information. 

As a result, the scammers used these details to impersonate him and gain access to his accounts. They drained his life savings and maxed out his credit cards.

Murrer claims Wells Fargo refused to help him after he discovered he was the victim of a cruel con.   

Wells Fargo Bombshell Lawsuit Reveals Security Flaws At Wells Fargo

Court documents also allege Wells Fargo’s systems had flagged that the fraudsters’ calls. The system showed the calls were not coming from a number that belonged to Murrer. Yet, Wells Fargo approved the transactions regardless. 

Astonishingly, the lawsuit also claims the scammers called from the same number AGAIN three months later. This time, the scammers impersonated a different Wells Fargo customer. Wells Fargo once again granted the scammers access to their account. 

The lawsuit also states this is a violation of both Virginia common law. Additionally, it states Wells Fargo fell short of ‘commercially reasonable industry security procedures.’

Murrer claims he had been a Wells Fargo customer for eight years. Fraudsters initially contacted him on November 7, 2022. The number they called from was identical to the one listed on its website as the Wells Fargo Fraud Department.

The criminals were then able to coerce him into giving them access to his account. They used coercion techniques such as urgent demands and threats.

Once the scammers got access to his account, they drained his life savings of around $12,000. Afterwards, they requested $23,000 of cash advances from his personal and business credit cards. 

Attorneys point out that the victim had never taken cash advances from his credit cards before nor sent wires from his bank accounts. 

Wells Fargo also slapped Murrer with $450 transaction fees. They are also forcing him to pay $3700 in monthly interest on his credit card debts because of the scam.

The bank’s case management notes show that scammers claimed the transactions were made by Murrer’s wife to ‘get new lawn mower equipment’ and ‘buy plane tickets’. 

However, Murrer does not have a wife. Thus, he has never made a transaction to her supposed account in the eight years he was a customer. 

Wells Fargo Admits They Never Contacted The Customer

Wells Fargo attorneys state that bank employees did not directly contact the victim. They claim this is because he is a T-Mobile customer. It is unclear why the victim’s mobile carrier influenced the decision. 

Murrer visited his local branch on November 14 and confirmed he had not authorized the fraudulent transactions. 

Wells Fargo identified and confirmed the fraudulent activity but he claims he was initially denied a refund.

The court filing alleges the scammers who attacked Murrer were then able to gain access to another victim’s account months later in January 2023. 

It reads: ‘The same fraudster who called Wells Fargo impersonating Plaintiff called Wells Fargo from the same telephone number he used in November 2022 to perpetrate the same fraud on yet another Wells Fargo customers.’

Did Wells Fargo Break Federal Law?

Rules outlined by the Consumer Financial Protection Bureau (CFPB) stipulate that banks have an obligation to refund victims of unauthorized Electronic Funds Transfers (EFTs). 

The body’s Regulation E guidelines define an unauthorized transaction as ‘from a consumer’s account initiated by a person other than a consumer with the actual authority to initiate the transfer and from which the consumer receives no benefit.’ 

However, the definition of an EFT notably does not cover wire transfers meaning banks are not forced to refund victims who lose money this way.  

Nevertheless, Wells Fargo’s own card agreement states the bank will not hold customers ‘liable for unauthorized use of their account.’ 

A Wells Fargo spokesman told DailyMail.com: ‘Wells Fargo just received the complaint, and we are reviewing the allegations. 

‘Wells Fargo invests hundreds of millions of dollars annually to fight fraud and scams. We are committed to helping our customers avoid fraud and scams through various resources, including ongoing education efforts.’

It is not the first time the bank has come under fire for its handling of fraud cases. Last week, Judith Anderson and her daughter Tracy Martinez went viral after sharing their fraud story.

Like Murrer, Anderson received a call from scammers impersonating Wells Fargo’s fraud department who coerced her into giving them access to her account and draining it of $147,000.

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