Wells Fargo
Wells Fargo has been named in 6 documented digital harm incidents. The most common harm domain is Fraud & Financial.
Documented Incidents
669-year-old Iowa man loses $164,000 to pig-butchering scam involving romantic relationship and fake cryptocurrency investments
A 69-year-old Iowa man lost $164,000 in a pig-butchering scam. The scam involved a romantic relationship formed online with a fraudster who convinced him to invest in fake cryptocurrency opportunities. The scam occurred between March and August 2023. The victim was defrauded through multiple transactions after being lured into a fraudulent investment scheme. The Iowa Attorney General is investigating the incident. The victim is now seeking legal action and financial recovery.
Houston man loses over $20,000 to Wells Fargo impersonation scam after home visit
A Houston man lost over $20,000 after handing his bank card to someone posing as a Wells Fargo agent following a phone call on May 16. The caller claimed there were fraud alerts on his account and provided accurate transaction details, leading him to believe the call was legitimate. A woman later arrived at his home, claiming to be a security representative and collected his card, which she cut in half and took with her. Surveillance footage captured the incident, which occurred at his front door. The man filed a police report and received a notice from Wells Fargo suggesting he had authorized the transactions. Wells Fargo said it would re-examine his case.
Two Chicago women defrauded via tap-to-pay scam using fake funeral donation paperwork, with $3,000 and $2,500 stolen by scammers using PayPal business accounts linked to inactive construction companies
Two women in Chicago were scammed in separate incidents where con artists claimed to be collecting donations for children's funerals and used tap-to-pay devices to steal thousands of dollars. Estelle Fisher was approached in the Ravenswood neighborhood and charged $3,000 after being shown what appeared to be legitimate donation paperwork. Kelly was targeted in Lincoln Park and charged $2,500 after being pressured to use her phone’s wallet for a tap-to-pay donation. Both victims were not given receipts and later discovered the fraudulent charges through bank alerts. Kelly’s bank, Wells Fargo, initially denied her fraud claim, but PayPal refunded her after media involvement. Estelle’s bank, Bank of America, initially denied her claim but later reversed the charge after she filed it as a billing dispute. The scammers used PayPal business accounts linked to construction businesses with no apparent active operations.
Acworth woman loses $8,265 to Wells Fargo impersonation scam via Zelle and Chase digital wallet transfer
An Acworth woman lost $8,265 in a scam after a caller posing as a Wells Fargo employee convinced her to transfer funds. Aleah McPherson was contacted by a phone number associated with Wells Fargo, and the caller claimed there was suspicious activity on her account. The caller urged her to withdraw her money for safekeeping during an "investigation," leading her to transfer money via Zelle and a Chase Bank digital wallet. McPherson said she heard laughing in the background after realizing she had been scammed. The Cherokee County Sheriff’s Office is investigating the case as a felony theft by deception. Wells Fargo advised customers not to share personal information over the phone and to be wary of pressured transactions.
80-year-old Florida woman loses $150,000 to government impersonation scam involving phantom hacker and fake courier
An 80-year-old woman in Florida lost nearly $150,000 after scammers impersonating government employees convinced her to transfer money and gold. The scam involved a "phantom hacker" scheme where the woman was told she was under investigation and needed to move her money to a safer place. Scammers instructed her to withdraw $20,000 in cash from Wells Fargo and later had her purchase gold bars. The incident occurred earlier this year and included the use of a fake government courier to collect the money. Between 2020 and 2024, the number of older adults losing $100,000 or more to such scams increased fourfold, according to the FTC.
Milwaukee woman loses $200,000 to fake Wells Fargo fraud scam call with falsified documents
A Milwaukee area woman lost over $200,000 to a sophisticated scam in 2023. The fraudsters used a fake phone call displaying a "Wells Fargo Fraud" caller ID to initiate the scam. Over the course of a month, the scammers presented falsified government documents, badges, and bank records to gain her trust. The victim, Kaitlin Henze, lost her entire savings, 401(k), and investments. She spoke publicly about the experience in an interview with Fox 6 News Milwaukee in October 2023 and later appeared on the Cybercrime Magazine Podcast.