Illustration by Dustin Elliott.

By Christopher Elliott
Guest Columnist

When Stephen Mills’ wife tries to cancel her Audible subscription, she inadvertently gives scammers access to her computer. They steal $3,495. Why won’t Wells Fargo help her get the money back?

My wife tried to cancel her Audible subscription but called a fraudulent number from a spoofed Google listing. The scammer tricked her into downloading remote access software and stole $3,495 via Zelle from our Wells Fargo account.

Christopher Elliott

We reported the fraud within minutes, closed the account, and cited Regulation E protections. But Wells Fargo refused to refund the money or disclose where it went. We’re retired and can’t afford this loss. Why won’t the bank help? — Stephen Mills, Hollister, Calif.

Wells Fargo should have refunded you immediately. Once you reported the unauthorized Zelle transfers, Wells Fargo has a legal obligation under the Electronic Funds Transfer Act (Regulation E) to investigate promptly and provisionally credit your account within 10 business days if it couldn’t resolve the claim by then.

Federal law is clear: Banks must refund unauthorized electronic transactions unless they can prove you acted with “gross negligence” or lied about the fraud. Even Zelle says that what happened to you would be considered fraud under Regulation E, noting that if someone gained access to your account, and stole money or sent it without your permission, “this could be defined as fraud.”

But not Wells Fargo. Instead of helping you, the paper trail you kept suggests it stonewalled you and tried to close the case quickly without giving it full consideration. It didn’t even tell you where the money went, which could have helped your recovery efforts. Banks often hide behind Zelle’s terms, which shift liability to consumers in cases of “authorized” payments. But this wasn’t authorized; it was fraud enabled by a malicious third party.

You might have avoided this by going to Audible’s website instead of searching for an Audible number on Google. Unfortunately, scammers have been setting up websites that pretend to be official sites. I’m sure your wife knows this now, but if a representative tells you to install an app on your computer, that should be a big red flag. It’s also a lesson for the rest of us. Other giveaways: A real person answers on the first ring (that never happens with a real company) or someone asks you to use a gift card through Apple or Amazon to pay for something.

Scammers are clever. They find a way of weaseling their way onto your computer to transfer money. Always enable two-factor authentication, and never share any one-time codes with a “company” representative.

You did everything right after the fraud: reporting it immediately, closing the account, and invoking Regulation E.
Wells Fargo should have helped you. When companies drag their feet, escalating to executives is key. I’ve published Wells Fargo’s leadership contacts on my consumer advocacy site, Elliott.org. You can also find the executive contacts for Zelle there.

After I contacted Wells Fargo on your behalf, it refunded the full $3,495. While I’m relieved your case was successfully resolved, it shouldn’t take media intervention to compel a bank to follow federal law.

Next time, please go to the company’s website for contact information. Or you can visit my advocacy site, where I carefully vet the phone numbers to ensure you won’t get scammed.

Christopher Elliott is the founder of Elliott Advocacy, a nonprofit organization that helps consumers solve their problems. Email him at [email protected] or get help by contacting him.