Report: Wells Fargo Account Drained of $30,000 in Mere Seconds – Bank Denies Reimbursement, Imposes $1,184 in Fees on Affected Customers
A California couple has accused Wells Fargo of failing to safeguard their $30,000, which was swiftly stolen by hackers. Ron and Jan Scott claim that criminals accessed their Wells Fargo account after successfully hacking into one of their email passwords, according to CBS 8. The couple argues that the bank should have detected suspicious activity when $50,000 was transferred from their account to their business account, and should have required additional authorization. The hackers then attempted to withdraw the funds from the business account in two separate transactions of $25,000 each. Ultimately, the bank denied $20,000 of these transactions but allowed $30,000 to be taken by the hackers. Ron Scott asserts that if a significant number of accounts are involved in instant large withdrawals, the system should reject all of them. In addition, the Scotts were charged $1,184 in fees related to the incident. While Ron acknowledges that the couple should have had stronger password protection, he believes that Wells Fargo should not have authorized such substantial transfers without proper scrutiny. Despite their pleas, the Scotts claim that Wells Fargo has refused to reimburse them. The bank has stated that it will respond to CBS 8 once it has conducted further research into the incident.