Not upheld: scam reimbursement claim - insufficient evidence of fraud complaint against MONZO BANK LIMITED
Financial Ombudsman decision DRN-6275273 of 2026-05-20T00:00:00+00:00. scam reimbursement claim - insufficient evidence of fraud complaint against MONZO BANK LIMITED. Outcome: Not upheld.
Decision detail
| Reference | DRN-6275273 |
|---|---|
| Decision date | 2026-05-20T00:00:00+00:00 |
| Firm | MONZO BANK LIMITED |
| Product | current account |
| Claim type | scam reimbursement claim - insufficient evidence of fraud |
| Outcome | Not upheld |
| Remedy | None. Complaint not upheld. |
Summary
Ms L complained that Monzo failed to reimburse £10,000 she lost to a cryptocurrency investment scam. She had sent the money to her friend's account on 24 September 2021, with the agreement that it would be invested with company H, which was operating a scam. Monzo declined the fraud claim, stating the payment to the friend was legitimate. The ombudsman found no persuasive corroborative evidence that the payment was forwarded to the scam and therefore could not fairly require reimbursement. The complaint was not upheld.
The Ombudsman's reasoning
The ombudsman could not find persuasive corroborative evidence that the disputed payment to Ms L's friend was actually forwarded to the scam operator. Without satisfactory evidence that Ms L was a victim of fraud and suffered a loss as a consequence, the ombudsman could not fairly require Monzo to reimburse the payment.
How this compares
| Group | Decisions | Uphold rate |
|---|---|---|
| MONZO BANK LIMITED, all decisions | 170 | 11% |
Source
Read the original decision on the Financial Ombudsman Service website