Not upheld: scam and fraud - investment scam complaint against Bank of Scotland plc trading as Halifax

Decision detail

Summary

Mr Q complained that Halifax should refund £9,477.71 in payments he made to Moonpay after falling victim to an investment scam discovered on social media. Mr Q communicated with the scammer via messaging applications and was provided with a realistic trading platform. When attempting to withdraw funds, he was asked for further payments and realised the scam. The ombudsman accepted that a scam likely occurred but found insufficient evidence regarding the full details and total loss, and therefore could not reasonably require Halifax to refund the disputed payments.

The Ombudsman's reasoning

The ombudsman accepted that a scam likely occurred based on Mr Q's evidence, but found that the available information did not provide sufficient clarity on the full details of the scam or the total loss incurred. Without being able to fully understand the mechanics of the scam and establish the precise loss, the ombudsman could not reasonably require Halifax to refund the disputed payments. The burden of proof rested with Mr Q to provide appropriate evidence supporting his version of events and the losses claimed.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website