Watch Out For The Wells Fargo ‘Verify Activity’ Text Scam
Written by: Stelian Pilici
Published on:
Text message scams purporting to be from Wells Fargo are on the rise. These fraudulent messages usually claim suspicious transactions have occurred on your account, urging you to call a provided number for help. However, the intention is to steal your money and personal information. Here’s what you need to know about spotting and avoiding this scam.
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Overview of the Scam
The Wells Fargo ‘Verify Activity’ scam involves recipients getting a text that appears to come from Wells Fargo. These texts sound the alarm about supposed fraudulent activity on your account.
A sample scam message reads:
FreeMsg: Verify Wells Fargo activity. $195.76 @ OldNavy In Fort Wayne, IN On 15/10/2023 @ 11:12 AM. Reply Y if recognized. Ask For Help@ 833-770-5907
Additional details like locations, store names, and amounts may vary. But the goal remains the same – to worry recipients and trick them into calling the number provided.
If you call, scammers posing as Wells Fargo representatives will answer. They’ll request sensitive information to “verify your identity.” Armed with those details, they can access your account and steal your money.
This scam is especially devious because it spoofs a trusted source – your bank. The texts also create urgency by claiming criminal activity against you. Combined, these tactics instill fear and push victims to react without thinking it through. But contacting the number only leads to headaches.
Wells Fargo will never request personal details over text. Any texts requesting sensitive info or directing you to call unfamiliar numbers are scams. The solution is simple – ignore these texts completely and alert Wells Fargo.
How the Scam Works
The ‘Verify Activity’ scam unfolds in several insidious steps:
Step 1: Recipients Get a Deceptive Text
The scam begins with an alarming text message appearing on your phone:
FreeMsg: Verify Wells Fargo activity. $195.76 @ OldNavy In Fort Wayne, IN On 15/10/2023 @ 11:12 AM. Reply Y if recognized. Ask For Help@ 833-770-5907
This text is engineered to look like official correspondence from Wells Fargo. The source number is spoofed to resemble a legitimate bank number. Specific transaction details add credibility.
In reality, scammers are sending these texts randomly, hoping to hook Wells Fargo customers. Any personalization with your name or city relies on guesses, not actual account data.
Step 2: The Text Creates a Sense of Urgency
Key details in the message trigger urgency and fear:
The text implies your account has been compromised, with fraudulent activity occurring. This suggests an urgent threat that needs immediate attention.
Location specifics like city names aim to personalize the scam and prove the criminals “know” you.
The instructions to “Reply Y” or call a number push fast action before you can analyze the situation.
Together, these tactics foster panic and pressure recipients to respond instinctively. But doing so only feeds the scam.
Step 3: Recipients Who Reply or Call Get Ensnared
For scam victims who call the number or reply “Y,” an elaborate ruse continues:
The scammers who answer pose as Wells Fargo representatives. They express grave concern about unauthorized transactions but promise help.
To “verify your identity,” they request personal information like account numbers, passwords, PINs, or full social security numbers.
Some may even try to remotely access your computer by having you download software. This allows them to directly steal data and account access.
Once they obtain enough sensitive details, the scammers can pilfer your accounts, open fraudulent credit, or steal your identity.
Any money stolen will go straight into the scammer’s pockets, with no recovery. Wells Fargo bears no liability.
As long as recipients call the number or engage in any way, the cycle of deception persists. The scammers can keep eliciting more information to leverage the scam further.
Step 4: Wells Fargo Account Holders Get Defrauded
For Wells Fargo customers tricked into engaging, the financial damages add up:
Money is stolen directly from your bank and credit card accounts. The amounts lost may be hundreds to thousands of dollars per victim.
New credit cards or loans may be opened in your name and maxed out, tanking your credit score.
With enough personal details, scammers can steal and exploit your full identity. This may allow them to open accounts, get medical care, file taxes, or commit crimes posing as you.
Due to privacy policies, Wells Fargo cannot reimburse any stolen funds authorized with your real credentials, cards, or accounts. Customers bear full liability.
Beyond monetary harm, victims suffer anxiety, stress, and trauma related to identity theft and account fraud.
The scope of damage reflects how cunningly designed this scam is. Texts come from a trusted source via a channel we regularly use. Our guards are down. But engaging with scammers always makes things exponentially worse.
What To Do If You Get This Scam Text
If a suspicious “Verify Activity” text appears on your phone claiming to be Wells Fargo, take these steps:
Don’t Reply or Call the Number
This is the golden rule. Ignore all instructions to call, text back, or provide information. The number that comes with scam texts is fake and controlled by criminals. Replying or calling does nothing but give scammers access to you. No good outcomes result.
Contact Wells Fargo Immediately
Reach out to Wells Fargo via official channels like calling the number on your card or visiting your nearest branch. Notify them of the scam text and have them verify your account status. This protects you in case any fraud did occur.
Report the Scam Text
Alert authorities to the scam text message:
Forward the text to SPAM (7726) to report it to your carrier.
File a complaint with the FCC at consumercomplaints.fcc.gov.
Report it to the FTC at ReportFraud.ftc.gov.
Contact local law enforcement.
Reporting the scam helps authorities and companies monitor, block, and trace these texts to hopefully stop them.
Never Provide Information via Text
No credible company will request personal or account information over text. Avoid the temptation to explain yourself or confirm details. Legitimate businesses already have your information.
Talk to Older Family and Friends
Senior citizens are common scam targets due to high savings and fixed incomes. Make sure older family and friends understand this scam so they can spot it if their accounts are targeted.
Staying vigilant stops this scam in its tracks. But if you or someone you know did fall victim, take these steps next:
How to Spot This Scam
While this scam can seem convincing, there are several indicators to help identify it:
The text comes from an unknown number – Wells Fargo will never text from random phone numbers. Scammers use spoofing technology to fake bank numbers.
The text creates urgency – Scare tactics about unauthorized transactions try to prompt hasty action without thinking. Real banks give you time to initiate contact yourself.
Personal details may be incorrect – Any personal or location details like your name or city may be wrong or guesses if you scrutinize them. This indicates scammers don’t have your real account information.
The text asks for information or action – No legitimate text will ask for private account details or request immediate calls. Banks already have your data and would simply alert you of suspicious activity.
There are spelling/grammar issues – Scam texts often contain typos, awkward phrasing or grammar mistakes. Official bank communications should be error-free.
The call number has an odd area code – Calling the number provides more clues. Unfamiliar area codes or Vanity numbers like 833-770-5907 indicate scams.
Trust your instincts if a text raises flags. Err on the side of caution and contact Wells Fargo directly through known channels. Verify any claims in the message before taking action. Scammers rely on blind trust, but awareness foils their plans.
What To Do If You Fell For This Scam
If you called the scam number or provided any personal information, take urgent action:
Contact Wells Fargo Immediately
If you responded to a scam text or call, immediately reach out to Wells Fargo via official channels. Alert them that you may have been compromised. This is critical so they can take precautions like:
Monitoring your accounts for fraud.
Temporarily freezing your accounts to block fraudulent use.
Issuing new account numbers or cards.
Investigating transactions to dispute unauthorized ones.
Providing credit protection services.
Acting quickly limits damages and takes advantage of fraud protections. Any delay gives criminals more time to exploit your information.
Change Account Passwords and Security Questions
Scammers may now have access to account login credentials, passwords, PINs, security question answers or other details. Rapidly change this information on:
Wells Fargo accounts
Other bank accounts
Credit cards
Investment accounts
Other financial accounts
Email accounts
Shopping sites and apps
Reset everything to new secure passwords. Make them long and complex. This cuts off scammer access before they act.
Place Fraud Alerts on Your Credit
Contact the three credit bureaus to place fraud alerts on your credit file:
Equifax – (800) 525-6285
Experian – (888) 397-3742
TransUnion – (800) 680-7289
Alerts flag you as an identity theft victim and make it harder for scammers to open new fraudulent accounts. Renew these alerts every 90 days while you resolve identity theft issues.
Monitor Your Credit Reports and Accounts Closely
Keep tight watch on your credit reports from Equifax, Experian, and TransUnion for any signs of new fraudulent accounts or charges. Immediately report any you don’t recognize.
Also monitor bank and credit card statements routinely for unauthorized activity. Again, report any strange transactions right away. The sooner you spot fraud, the better.
File a Police Report
File a report with local law enforcement on the scam, providing all details of what occurred and any financial losses. Get a copy of this report, as creditors and banks may request it when disputing fraudulent accounts opened in your name.
Report the Identity Theft
File an official identity theft report via the FTC at IdentityTheft.gov. This comprehensive report helps get fraudulent accounts removed, repairs damage to your credit, and entitles you to certain fraud protections.
Seek Legal Assistance
Consult a lawyer specializing in identity theft cases if the impacts are severe. They can provide guidance on recovering stolen funds, removing fraudulent accounts, and restoring your credit and identity.
Falling prey to scams is stressful. But acting decisively to report, contain, and repair the damage limits how criminals can exploit you. Over time, you can heal financial and credit damage while pursuing justice. Stay strong!
Is Your Device Infected? Check for Malware
If your device is running slowly or acting suspicious, it may be infected with malware. Malwarebytes Anti-Malware Free is a great option for scanning your device and detecting potential malware or viruses. The free version can efficiently check for and remove many common infections.
Malwarebytes can run on Windows, Mac, and Android devices. Depending on which operating system is installed on the device you’re trying to run a Malwarebytes scan, please click on the tab below and follow the displayed steps.
Malwarebytes For WindowsMalwarebytes For MacMalwarebytes For Android
Scan your computer with Malwarebytes for Windows to remove malware
Malwarebytes stands out as one of the leading and widely-used anti-malware solutions for Windows, and for good reason. It effectively eradicates various types of malware that other programs often overlook, all at no cost to you. When it comes to disinfecting an infected device, Malwarebytes has consistently been a free and indispensable tool in the battle against malware. We highly recommend it for maintaining a clean and secure system.
Download Malwarebytes for Windows
You can download Malwarebytes by clicking the link below.
After the download is complete, locate the MBSetup file, typically found in your Downloads folder. Double-click on the MBSetup file to begin the installation of Malwarebytes on your computer. If a User Account Control pop-up appears, click “Yes” to continue the Malwarebytes installation.
Follow the On-Screen Prompts to Install Malwarebytes
When the Malwarebytes installation begins, the setup wizard will guide you through the process.
You’ll first be prompted to choose the type of computer you’re installing the program on—select either “Personal Computer” or “Work Computer” as appropriate, then click on Next.
Malwarebytes will now begin the installation process on your device.
When the Malwarebytes installation is complete, the program will automatically open to the “Welcome to Malwarebytes” screen.
On the final screen, simply click on the Open Malwarebytes option to start the program.
Enable “Rootkit scanning”.
Malwarebytes Anti-Malware will now start, and you will see the main screen as shown below. To maximize Malwarebytes’ ability to detect malware and unwanted programs, we need to enable rootkit scanning. Click on the “Settings” gear icon located on the left of the screen to access the general settings section.
In the settings menu, enable the “Scan for rootkits” option by clicking the toggle switch until it turns blue.
Now that you have enabled rootkit scanning, click on the “Dashboard” button in the left pane to get back to the main screen.
Perform a Scan with Malwarebytes.
To start a scan, click the Scan button. Malwarebytes will automatically update its antivirus database and begin scanning your computer for malicious programs.
Wait for the Malwarebytes scan to complete.
Malwarebytes will now scan your computer for browser hijackers and other malicious programs. This process can take a few minutes, so we suggest you do something else and periodically check the status of the scan to see when it is finished.
Quarantine detected malware
Once the Malwarebytes scan is complete, it will display a list of detected malware, adware, and potentially unwanted programs. To effectively remove these threats, click the “Quarantine” button.
Malwarebytes will now delete all of the files and registry keys and add them to the program’s quarantine.
Restart your computer.
When removing files, Malwarebytes may require a reboot to fully eliminate some threats. If you see a message indicating that a reboot is needed, please allow it. Once your computer has restarted and you are logged back in, you can continue with the remaining steps.
Your computer should now be free of trojans, adware, browser hijackers, and other malware.
If your current antivirus allowed this malicious program on your computer, you may want to consider purchasing Malwarebytes Premium to protect against these types of threats in the future. If you are still having problems with your computer after completing these instructions, then please follow one of the steps:
Scan your computer with Malwarebytes for Mac to remove malware
Malwarebytes for Mac is an on-demand scanner that can destroy many types of malware that other software tends to miss without costing you absolutely anything. When it comes to cleaning up an infected device, Malwarebytes has always been free, and we recommend it as an essential tool in the fight against malware.
Download Malwarebytes for Mac.
You can download Malwarebytes for Mac by clicking the link below.
When Malwarebytes has finished downloading, double-click on the setup file to install Malwarebytes on your computer. In most cases, downloaded files are saved to the Downloads folder.
Follow the on-screen prompts to install Malwarebytes.
When the Malwarebytes installation begins, you will see the Malwarebytes for Mac Installer which will guide you through the installation process. Click “Continue“, then keep following the prompts to continue with the installation process.
When your Malwarebytes installation completes, the program opens to the Welcome to Malwarebytes screen. Click the “Get started” button.
Select “Personal Computer” or “Work Computer”.
The Malwarebytes Welcome screen will first ask you what type of computer are you installing this program, click either Personal Computer or Work Computer.
Click on “Scan”.
To scan your computer with Malwarebytes, click on the “Scan” button. Malwarebytes for Mac will automatically update the antivirus database and start scanning your computer for malware.
Wait for the Malwarebytes scan to complete.
Malwarebytes will scan your computer for adware, browser hijackers, and other malicious programs. This process can take a few minutes, so we suggest you do something else and periodically check on the status of the scan to see when it is finished.
Click on “Quarantine”.
When the scan has been completed, you will be presented with a screen showing the malware infections that Malwarebytes has detected. To remove the malware that Malwarebytes has found, click on the “Quarantine” button.
Restart computer.
Malwarebytes will now remove all the malicious files that it has found. To complete the malware removal process, Malwarebytes may ask you to restart your computer.
Your Mac should now be free of adware, browser hijackers, and other malware.
If your current antivirus allowed a malicious program on your computer, you might want to consider purchasing the full-featured version of Malwarebytes Anti-Malware to protect against these types of threats in the future. If you are still experiencing problems while trying to remove a malicious program from your computer, please ask for help in our Mac Malware Removal Help & Support forum.
Scan your phone with Malwarebytes for Android to remove malware
Malwarebytes for Android automatically detects and removes dangerous threats like malware and ransomware so you don’t have to worry about your most-used device being compromised. Aggressive detection of adware and potentially unwanted programs keeps your Android phone or tablet running smooth.
Download Malwarebytes for Android.
You can download Malwarebytes for Android by clicking the link below.
In the Google Play Store, tap “Install” to install Malwarebytes for Android on your device.
When the installation process has finished, tap “Open” to begin using Malwarebytes for Android. You can also open Malwarebytes by tapping on its icon in your phone menu or home screen.
Follow the on-screen prompts to complete the setup process
When Malwarebytes will open, you will see the Malwarebytes Setup Wizard which will guide you through a series of permissions and other setup options. This is the first of two screens that explain the difference between the Premium and Free versions. Swipe this screen to continue. Tap on “Got it” to proceed to the next step. Malwarebytes for Android will now ask for a set of permissions that are required to scan your device and protect it from malware. Tap on “Give permission” to continue. Tap on “Allow” to permit Malwarebytes to access the files on your phone.
Update database and run a scan with Malwarebytes for Android
You will now be prompted to update the Malwarebytes database and run a full system scan.
Click on “Update database” to update the Malwarebytes for Android definitions to the latest version, then click on “Run full scan” to perform a system scan.
Wait for the Malwarebytes scan to complete.
Malwarebytes will now start scanning your phone for adware and other malicious apps. This process can take a few minutes, so we suggest you do something else and periodically check on the status of the scan to see when it is finished.
Click on “Remove Selected”.
When the scan has been completed, you will be presented with a screen showing the malware infections that Malwarebytes for Android has detected. To remove the malicious apps that Malwarebytes has found, tap on the “Remove Selected” button.
Restart your phone.
Malwarebytes for Android will now remove all the malicious apps that it has found. To complete the malware removal process, Malwarebytes may ask you to restart your device.
Your phone should now be free of adware, browser hijackers, and other malware.
If your current antivirus allowed a malicious app on your phone, you may want to consider purchasing the full-featured version of Malwarebytes to protect against these types of threats in the future. If you are still having problems with your phone after completing these instructions, then please follow one of the steps:
Restore your phone to factory settings by going to Settings > General management > Reset > Factory data reset.
This scam involves receiving a text message that appears to come from Wells Fargo. The message normally says suspicious transactions happened on your account and provides a number to call for help. However, the number leads to scammers instead of Wells Fargo. Their aim is to steal your personal and financial information.
How do I recognize this scam text?
These texts often say something like “Verify Wells Fargo activity” or reference fraudulent transactions. They create urgency and tell you to call a number to resolve supposed account issues. Any text from an unknown number asking you to verify account activity or provide information is always a scam.
What should I do if I get one of these scam texts?
Do not reply to the text or call the number provided. Contact Wells Fargo immediately through official channels like the number on your card or website. You can also report the scam text to your cell provider by forwarding it to 7726.
What happens if I call the number in the scam text?
The scammers who answer will pose as Wells Fargo representatives to gain your trust. They will ask you to “verify” personal details like account numbers, SSNs, passwords, PINs or even download software to access your computer. With this info, they can steal your money and identity.
Can these scammers really access my accounts with Wells Fargo?
No, they cannot directly access your accounts without tricks to get your cooperation. They rely on urgency and impersonation tactics via phone to voluntarily provide the info they need. Wells Fargo also has no liability if customers authorize fraudulent access by providing personal details.
How can I recover if I fell for this scam?
Immediately contact Wells Fargo regarding compromised accounts or information. Change all passwords, PINs and security questions. Place fraud alerts and monitor your credit closely. Report identity theft to the FTC and authorities to limit damages. A lawyer can also advise you on restoring your identity and credit.
How can I help older family avoid this scam?
Make sure elderly relatives understand that banks never request information over text. Advise them to let you know immediately if they receive suspicious texts so you can confirm legitimacy with the bank. Set up phone and text blocking tools to filter likely scams.
The key is recognizing that no genuine company needs you to verify your identity by calling a texted number or providing info via text. Communicating directly with companies through known numbers circumvents this scam entirely.
The Bottom Line
The Wells Fargo ‘Verify Activity’ scam illustrates how savvy scammers are with manipulating phone technologies for fraud. Through urgent-sounding texts, they create distractions to steal money and information before victims realize what’s happening.
But understanding common tactics like spoofing, urgency creation, impersonation, and eliciting personal details helps recognize and refuse these scams. When in doubt, reach out to companies via official channels. Never call numbers, click links, or provide data via unsolicited texts or calls.
Staying vigilant requires healthy skepticism. But it protects you and your loved ones from threats precisely designed to bypass our instincts. Spreading awareness on the Wells Fargo text scam helps remove its power to deceive and steal.
How to Stay Safe Online
Here are 10 basic security tips to help you avoid malware and protect your device:
Use a good antivirus and keep it up-to-date.
It's essential to use a good quality antivirus and keep it up-to-date to stay ahead of the latest cyber threats. We are huge fans of Malwarebytes Premium and use it on all of our devices, including Windows and Mac computers as well as our mobile devices. Malwarebytes sits beside your traditional antivirus, filling in any gaps in its defenses, and providing extra protection against sneakier security threats.
Keep software and operating systems up-to-date.
Keep your operating system and apps up to date. Whenever an update is released for your device, download and install it right away. These updates often include security fixes, vulnerability patches, and other necessary maintenance.
Be careful when installing programs and apps.
Pay close attention to installation screens and license agreements when installing software. Custom or advanced installation options will often disclose any third-party software that is also being installed. Take great care in every stage of the process and make sure you know what it is you're agreeing to before you click "Next."
Install an ad blocker.
Use a browser-based content blocker, like AdGuard. Content blockers help stop malicious ads, Trojans, phishing, and other undesirable content that an antivirus product alone may not stop.
Be careful what you download.
A top goal of cybercriminals is to trick you into downloading malware—programs or apps that carry malware or try to steal information. This malware can be disguised as an app: anything from a popular game to something that checks traffic or the weather.
Be alert for people trying to trick you.
Whether it's your email, phone, messenger, or other applications, always be alert and on guard for someone trying to trick you into clicking on links or replying to messages. Remember that it's easy to spoof phone numbers, so a familiar name or number doesn't make messages more trustworthy.
Back up your data.
Back up your data frequently and check that your backup data can be restored. You can do this manually on an external HDD/USB stick, or automatically using backup software. This is also the best way to counter ransomware. Never connect the backup drive to a computer if you suspect that the computer is infected with malware.
Choose strong passwords.
Use strong and unique passwords for each of your accounts. Avoid using personal information or easily guessable words in your passwords. Enable two-factor authentication (2FA) on your accounts whenever possible.
Be careful where you click.
Be cautious when clicking on links or downloading attachments from unknown sources. These could potentially contain malware or phishing scams.
Don't use pirated software.
Avoid using Peer-to-Peer (P2P) file-sharing programs, keygens, cracks, and other pirated software that can often compromise your data, privacy, or both.
To avoid potential dangers on the internet, it's important to follow these 10 basic safety rules. By doing so, you can protect yourself from many of the unpleasant surprises that can arise when using the web.
Meet Stelian Pilici
Stelian leverages over a decade of cybersecurity expertise to lead malware analysis and removal, uncover scams, and educate people. His experience provides insightful analysis and valuable perspective.
