Not upheld: scam loss reimbursement complaint against Barclays Bank UK PLC

Decision detail

Summary

Mr W complained that Barclays should refund approximately £11,000 he claimed to have lost in a cryptocurrency investment scam after seeing a social media advert in summer 2025. He made two payments from his Barclays account to his own cryptocurrency wallet, then sent crypto to the scheme, and was asked for a large fee when attempting to withdraw. Barclays declined liability citing insufficient evidence of the scam. The ombudsman found the complaint not upheld because there was insufficient evidence that the payments were actually lost to a scam, including no proof of instructions to send crypto to the scheme, no confirmation the amounts reached the scheme, and unreliable testimony regarding key details.

The Ombudsman's reasoning

The ombudsman found insufficient evidence that the payments were actually lost to a scam. While appreciating that scam evidence can be difficult to provide, the ombudsman noted the absence of key evidence such as instructions to send crypto to the scheme, confirmation that the amounts reached the scheme, or details of where the crypto was sent. The ombudsman also found the testimony unreliable in places regarding payment details and scheme identification. Without sufficient substantiation that a scam occurred, the ombudsman could not reasonably hold Barclays liable.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website