A Wells Fargo customer was shocked to receive a fake $100 bill during a routine withdrawal.
Customer’s Experience
Kam Ridley withdrew cash from a Wells Fargo branch in Mississippi to pay bills. When she tried to deposit the money at her other bank, Trustmark, the ATM rejected the $100 bill.
Bewildered, Ridley went inside the bank and was told by a teller that the bill was counterfeit.
Wells Fargo’s Response
Wells Fargo released a statement acknowledging the incident and emphasizing its efforts to combat fraud and identify counterfeit currency.
Legal Implications
The Office of the Comptroller of the Currency warns that customers may face challenges proving that their bank gave them fake money.
Counterfeit Cash on the Rise
Reports of counterfeit cash use have increased across the US, including incidents of bleached $1 bills with $100 marks printed on them.
Secret Service Statistics
In 2022, the US Secret Service confiscated $21.8 million in fake money and made 197 arrests.
