Partially upheld: inadequate fraud monitoring and failure to intervene on suspicious transactions complaint against Tide Platform Ltd
Financial Ombudsman decision DRN-6297907 of 2026-05-12T00:00:00+00:00. inadequate fraud monitoring and failure to intervene on suspicious transactions complaint against Tide Platform Ltd. Outcome: Partially upheld.
Decision detail
| Reference | DRN-6297907 |
|---|---|
| Decision date | 2026-05-12T00:00:00+00:00 |
| Firm | Tide Platform Ltd |
| Product | business current account |
| Claim type | inadequate fraud monitoring and failure to intervene on suspicious transactions |
| Outcome | Partially upheld |
| Remedy | Tide Platform Limited must reimburse P £9,975.25 (50% of £19,950.50) plus 8% simple interest per annum from the date of the original payment to the date of settlement. |
Summary
P, represented by Mr O, complained that Tide Platform Ltd failed to protect the account from fraud after Mr O reported unauthorized transactions totaling £24,900.50 made in September 2024 following an incident where he believed his drink was spiked. While police investigation confirmed someone other than Mr O made an ATM withdrawal, all disputed transactions used Mr O's genuine device with biometric confirmation, suggesting he either made them or allowed someone else to do so. The ombudsman found that although the £4,950 transaction was not unreasonable to process, the £19,950.50 transaction was significantly higher than any previous transaction and should have prompted Tide to intervene, as they did with a subsequent attempted payment. The complaint was partially upheld, with Tide ordered to reimburse 50% of the £19,950.50 transaction (£9,975.25) plus interest, reflecting both Tide's failure to monitor adequately and Mr O's likely contribution to the loss.
The Ombudsman's reasoning
While the circumstances are unclear and it appears Mr O either made the transactions himself or allowed someone else to do so (possibly under coercion), the ombudsman found that Tide had an obligation to monitor account activity for signs of financial harm. The £19,950.50 transaction was significantly out of character compared to previous account usage and followed closely after another high-value transaction to a new payee, coupled with two declined card payments. This should have prompted Tide to intervene and question the transaction, as they did with the subsequent £18,962.20 payment. The ombudsman concluded this loss was preventable. However, given Mr O's likely contribution to the loss through either making or allowing the transaction, a 50% deduction was applied to reflect shared responsibility.
How this compares
| Group | Decisions | Uphold rate |
|---|---|---|
| Tide Platform Ltd, all decisions | 53 | 41% |
Source
Read the original decision on the Financial Ombudsman Service website