Victims of Fraud Abuse


A new lawsuit in 2018 by an ex-fraud investigator for the bank claims that Wells Fargo engaged in an “illegal and systematic scheme to prematurely close certain customer accounts” after complaints of fraud.

According to the lawsuit: “Wells Fargo customers have long complained that after being victimized by account fraud or suffering identity theft, their accounts were closed for no legitimate reason. Wells Fargo failed to adequately investigate the fraud, and instead closed the account under the pretext of a ‘business decision’, leaving its customers to absorb the loss for any unauthorized withdrawals.”