Houston man lost $20,000 after getting 'fraud alert' and handing over his bank card to someone he thought worked for Wells Fargo — here's how to protect yourself from imposter scams

“They told me that there was fraud alerts on my account on a couple of charges that they didn’t feel like were mine,” he told Fox 26 Houston in a story published July 1.

The caller was also able to tell Merovitch about valid transactions in his account “which, again, is what gave me the kind of assurance that I was talking to a real person,” he said.

Merovitch was told a security representative from Wells Fargo would soon show up at his home.

Here's what happened

Footage captured by Merovitch’s doorbell camera and shared with the broadcaster appears to show a woman walking up to his front door. Merovitch says she identified herself and gave him a code that the caller had shared with him.

Believing her to be a legitimate employee from Wells Fargo, Merovitch says he gave her his card. She then cut it in half with a pair of scissors, sealed the pieces in an envelope and drove off.

An hour and a half later, over $20,000 had been withdrawn from Merovitch’s account from ATMs a few miles away, he says.

Merovitch filed a police report, per Fox 26, and a few days after the incident he received a notice from Wells Fargo — this one was legitimate.

“They basically accused me of transferring the money into the accounts and then authorizing the charges,” he said. He thinks blaming him “is just the easy way out for a gigantic organization.”

Wells Fargo told Fox 26 the bank would take another look at Merovitch’s case. In a follow-up story on July 16, the broadcaster reported, after further review, the bank decided to return the money.

Fraud losses on the rise

The broadcaster reports Merovitch’s case was similar to a Wells Fargo customer who fell victim to a similar scheme earlier this year.

Imposter scams can involve the transfer of cash and even gold bars, and initial contact with victims comes in many forms, such as messages claiming to be from federal agents or phone calls from seemingly legitimate authority figures.

As scams become increasingly elaborate, more Americans are becoming victims of fraud. In 2024, consumers reported losing more than $12.5 billion to fraud — a 25% increase over 2023 — according to the Federal Trade Commission (FTC).