• Sun. Dec 3rd, 2023

Wells Fargo Business Account at Risk of Security Breach due to Account Takeover by Thieves


Nov 20, 2023

Robert Branagh, a long-time Wells Fargo business account holder, has recently become the latest victim of unauthorized withdrawals and transfers totaling just under $150,000. Despite immediately filing a fraudulent claim, he was unable to recover more than $24,000 that was illegally transferred from his Volusia County business account to a personal account.

According to bank records, the first breach occurred on Aug. 17 but was not noticed until Aug. 29 after a total of $149,296.48 had been taken in a series of withdrawals. A final withdrawal of $10,000 was taken out of Branagh’s business account on Aug. 28 and later $530 dollars were taken out of his daughter’s account on Aug. 29.

A representative from the U.S. Secret Service Orlando office suggested that the account may have been tested by a potential buyer of stolen accounts as the small withdrawals suggested a test to see if the account was active. This escalated into a flurry of larger withdrawals totaling just under $150,000.

The U.S Secret Service is encouraging anyone with a checking or savings account to check their accounts every day and report any suspicious activity immediately to local law enforcement or their office if they suspect their account has been compromised.

If you have any questions or need assistance, you can email makeendsmeet@wkmg.com or text the words “make ends meet” along with your contact information and the issue to 407-676-7428

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