Not upheld: Fraud reimbursement (APP scams) complaint against Monzo Bank Limited

Decision detail

Summary

Mr M complained that Monzo Bank Limited failed to refund £61,500 he claimed to have lost through an investment scam between October 2022 and October 2025, during which he also received £12,905.22 in returns. The ombudsman did not uphold the complaint, finding that Mr M had not provided sufficient evidence of being scammed or of suffering a loss. The evidence provided consisted of incomplete screenshots from before the disputed payment period, and the investment platform screenshots lacked identifying details and did not demonstrate what happened to the funds. The ombudsman noted that the receipt of substantial returns over many months and Mr M's continued payments after allegedly suspecting a scam in May 2022 were inconsistent with his claims of being scammed.

The Ombudsman's reasoning

The ombudsman found that Mr M had not provided sufficient evidence to demonstrate he had been scammed or that he had lost funds as a result. The evidence provided was insufficient: communications were from before the disputed payment period, the platform mentioned in May 2022 appeared different from the one Mr M claimed to have invested in, and the investment platform screenshots lacked identifying details and did not show what happened to the funds. Additionally, the fact that Mr M received substantial returns over many months did not suggest a scam, and his continued payments after allegedly suspecting a scam in May 2022 was inconsistent with his later claims.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website