Online Threat Alerts (OTA) - Alerting you to scams and frauds.

Wells Fargo Scam Calls - Beware

Wells Fargo scam calls often involve fraudsters spoofing the bank's official number to report fake "suspicious activity," aiming to steal funds via Zelle, wire transfers, or by requesting one-time passcodes. Key warning: Wells Fargo never asks for passwords, PINs, or for you to transfer money to a "safe account".

Common Scam Tactics

  • The "Safe Account" Trap: Scammers claim your account is compromised and urge you to transfer funds to a "safe account" to protect them. In reality, this "safe" account is controlled by the fraudster.
  • Verification Code Phishing: A caller may ask for a one-time verification code sent to your phone to "verify your identity" or "reverse a charge." Giving them this code allows them to bypass security and access your account.
  • Urgent Fraud Alerts: Scammers create a sense of panic by claiming there is suspicious activity, such as an international transaction or a large Zelle payment, and pressure you to act immediately.
  • AI Voice Capture: Some robocalls may attempt to record your voice (asking questions to get you to say "Yes" or your name) to potentially use for voice-recognition authentication in the future.

How to Identify a Scam

Wells Fargo will never call you unprompted to ask for the following information:

  • Security Codes: One-time passcodes or authentication codes.
  • Login Credentials: Your online banking username or password.
  • Personal Identification: Your full Social Security Number, PIN, or full debit card number.
  • Immediate Money Transfers: Requests to send money via Zelle or wire transfer to "fix" a problem.

Recommendations

  1. Hang Up: If a call feels suspicious, end it immediately. Do not rely on the caller ID, as it can be easily faked.
  2. Verify Independently: Call the bank back using a trusted number, such as the one on the back of your physical debit card or the official Wells Fargo website.
  3. Report the Call: Notify the Wells Fargo Fraud Department and local law enforcement if you believe you were targeted.
  4. Monitor Accounts: If you shared any information, immediately freeze your card and monitor your transaction history through the official mobile app.
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