Monzo wrongly denied refunds to thousands of fraud and scam victims

Monzo Fails Victims of Scams: Thousands Wrongly Denied Refunds

Millions of UK consumers who fell victim to scams have been left reeling as digital bank Monzo wrongly denied them refunds for losses incurred. Data from the Financial Ombudsman Service (FOS) reveals that over 1,000 cases involving fraud and scam complaints were rejected by Monzo last year alone, with a staggering 34% of cases deemed incorrect.

According to FOS figures, Monzo had one of the highest rates of rejection among major British banks, with more than 3,000 cases disputed. This is worrying given that fraud has become the most commonly reported crime in the UK, accounting for an estimated 41% of all offences in England and Wales last year.

Complaints from victims often involve authorised push payment (APP) scams, chip and pin fraud, and identity theft. Many have spoken out about their distress when dealing with banks over these issues, saying they were left feeling worried and ashamed.

The FOS said it receives hundreds of cases a week, highlighting the need for improved processes within major financial institutions to support victims of scams. Monzo has acknowledged that some cases date back more than two years ago, while others have occurred as recently as last summer.

Despite Monzo's efforts to improve its fraud prevention technology, data shows that over 2.9 times the value of fraud was still lost in 2025 compared to the previous year. This highlights the need for banks to take a proactive approach in handling scam cases and ensuring swift refunds are made.

UK Finance estimates there were 185,733 APP cases last year, down from a peak of 232,427 in 2023. However, victims often struggle to access compensation due to lengthy complaints processes.

As government introduces new rules requiring banks to refund most victims of APP fraud, many are calling for more support and swift action from financial institutions.

Monzo's got some serious explaining to do here. I mean, 3k cases disputed is a lot! You'd think they'd have better systems in place to spot scams from a mile away But nope, thousands of people get wronged and it's all left to the FOS to sort out . And don't even get me started on APP scams - these are literally just phishing scams in disguise, you can't even trust those banking apps anymore

It's like they're trying to make victims feel worse, ya know? Left feeling worried and ashamed... that's not how it should be . They need to step up their game and start taking these cases seriously ASAP! And what's with the delay in refunds? Two years is way too long for anyone to have to wait . It's just common sense, really.

I mean, I'm no expert, but it seems like Monzo's just playing catch-up at this point . They need to improve their processes and make sure these types of scams aren't happening in the first place . Until then, victims are gonna keep getting screwed

just heard about monzo screwing up refund for scammed customers and it's super disappointing... like how can they mess this up so badly? 1k+ cases rejected last year alone is insane! what kinda tech are they using to prevent scams that's not working? any bank worth its salt should have this stuff down pat by now. victims r going thru hell trying to get their money back and it's like banks just don't care 185k app cases in 2024 is crazy but still, how many got refunds tho? https://www.theguardian.com/money/2...ims-of-scams-thousands-wrongly-denied-refunds

Ugh this is crazy Monzo needs to step up their game and make sure these people get the refunds they deserve ASAP! I mean 34% of cases being deemed incorrect? That's just not right . And what really gets me is that some cases are from years ago . Like, come on Monzo, you should be doing more to help people who have already lost so much.

And can we talk about how frustrating it must be for these victims? Feeling worried and ashamed because they were scammed ? No one deserves that . We need banks like Monzo to take responsibility and make sure their processes are in place to support people who have been victimized.

I'm not surprised the FOS is saying we need improved processes, it's about time . And with these new rules coming in, I hope financial institutions start taking this seriously. We need swift refunds and more support for these victims. It's just not right that they're still struggling to get what they deserve

this is a total nightmare for people who got scammed by Monzo they should be made to pay back all the money they lost not just a fraction lol how can you even deny someone a refund when it's been proven that your security measures failed them? it's like saying "sorry, pal, our system says you owe us now" what kind of bank does that? and the fact that Monzo has to deal with over 3k cases is just ridiculous how many people do they think are gonna come forward with all these complaints? this whole situation is a huge mess

omg, this is so not cool monzo! they're basically screwing over their customers who got scammed it's like, you take our money by promising safety & security, but then you don't even try to help us get it back they have so many cases where they denied refunds after a looong time (even 2+ years ago) and still didn't do anything. ugh! this is just ridiculous

i feel bad for all the ppl who got scammed & are now struggling to get their money back the complaints process is so long & hard, it's like they're just pushing victims around monzo needs 2 do way better than what they're doing right now and this is not an isolated issue, many ppl r saying the same thing about other banks too

oh man this is just not right monzo needs to step up their game in handling scam cases - 34% of cases were deemed incorrect? that's a huge chunk! it's like they're prioritizing profits over people and the victims are paying for it

i mean, i get it, tech can only go so far, but monzo needs to invest in their systems and processes ASAP or else they'll be facing a lot of backlash from customers and regulatory bodies too

and can we talk about how victims are struggling to access compensation? that's just heartbreaking app cases are already super common, so this is just adding insult to injury the UK finance estimates are going down, but what about the ones who still get left behind?

Monzo needs to step up their game when it comes to handling scam cases ! I mean, 3,000 cases disputed is just crazy - that's like a whole city of people who got wronged by the bank . And for what? A lengthy complaints process? That's not right at all . The FOS is saying they get hundreds of cases a week... that's like, every day someone gets scammed and can't get their money back . Monzo needs to speed up these refunds ASAP . The gov has already introduced new rules requiring banks to refund most victims of APP fraud - now it's time for the banks to follow through !

Monzo's refund process is a total mess ! 1k+ cases wrongly denied refunds = not cool . More support & swift action needed ASAP . Banks should be proactive, not reactive .

This news is really making me think about how our personal data and trust in institutions can be turned against us . It's like, we hand over our sensitive info to banks thinking they're gonna protect us, but instead, we become the ones who need protection. It's a classic case of power imbalance, where those with the means (banks) can decide whether or not to help those in need (victims). And it's not just about the money; it's about the emotional toll too... I mean, being scammed and then having to deal with the hassle of getting your refund back? That's a recipe for anxiety and feelings of shame . We need institutions to step up their game and prioritize helping victims over profits.

Ugh, Monzo's got some 'splainin' to do ... 1k+ cases where they denied refunds? That's just peachy. What's even more frustrating is that it's not like these victims were asking for a loan or somethin', they're just tryin' to get their money back after bein' scammed . I mean, come on Monzo, can't you just process the refunds without breakin' out the ol' cop-out excuse? And what's with all these cases datin' back two+ years ago? That's like playin' a game of "let's pretend" where victims are stuck in limbo . I'm callin' for some serious overhaulin' of their processes, stat !

omg what's up with monzo??! they're like the scam bank or something! 1k cases wrongfully denied refunds? that's crazy talk! i mean i know we've all been there, got our hopes up thinking we'll get a refund, only to find out it's a no-go. but this is on another level... and now the gov's introducing new rules requiring banks to refund most victims of app fraud? about time too! lets hope monzo gets their act together and stops being so scammy

monzo gotta step up their game if they wanna be a good bank... i feel bad 4 all those people who got scammed & had their refunds denied it's not cool when you're trying to recover from something bad & the bank makes it even harder . gov is tryin 2 help with new rules, but banks gotta match that effort

monzo is basically killing its own customers ... 1k+ cases denied refunds last year? that's insane! how can they be so wrong all the time? i mean, we all know scammers are getting smarter, but monzo should've been keeping up. now these people are left with nothin', just a bunch of broken promises and lost money ... gotta give credit though, fos is doin' its job exposin' this stuff

I'm really concerned about the Monzo bank's handling of scam cases . The fact that they've rejected over 1,000 cases and 34% were deemed incorrect is just unacceptable . I mean, these are people who have already been scammed out of their hard-earned money , and now they're being left to deal with the emotional fallout too .

The data on authorised push payment scams is staggering . 41% of all offences in England and Wales last year were accounted for by fraud alone . And yet, banks like Monzo seem to be taking a reactive approach rather than proactively addressing these issues .

It's clear that there needs to be more support for victims of scams, especially when it comes to accessing refunds . The government's new rules are a step in the right direction, but we need to see banks like Monzo taking swift action and improving their processes ASAP . It's time for them to put the customers first and stop just paying lip service to being victims of scam .

this is so not right monzo should be doing so much better than other banks in the UK 1k cases wrongfully denied refunds? that's just huge they need to sort out their processes ASAP 34% of cases incorrect? that's a huge mistake victims deserve so much better than this

I'm telling you, this Monzo fiasco is a perfect example of how our banking system needs a shake-up . I mean, who wants to be the victim of a scam and then have to deal with a bank that's more concerned about its own profits than helping you out? It's like they're saying, "Sorry, we didn't do anything wrong, so you don't get your money back."

And let's be real, this is just another symptom of a larger problem. We need to start holding our banks accountable for their actions and ensuring that they have the necessary tools in place to protect their customers from these types of scams. It's all about transparency and swift action. The FOS is doing its job by receiving hundreds of cases a week, but we need more than just a middleman to make sure our banks are doing right by us.

I think it's time for the government to step in and regulate these banks even more strictly. We can't have a situation where one bank is more willing to help victims of scams than others. That's just not fair . And what about all those cases that date back two years? How are we supposed to know if Monzo is being more efficient now than it was then? We need more oversight and accountability, stat!

man this is so frustrating Monzo is like the bank that's supposed to be helping people but instead they're denying refunds left and right it's crazy how many cases were rejected last year with 34% of them being incorrect I feel for the victims who are already struggling after falling victim to these scams it's not just about getting your money back, it's about feeling safe and supported by the bank

Ugh this is just so frustrating! I've had friends who got scammed by those types of scams and it's a nightmare trying to get anything back from Monzo or other banks. The fact that they denied over 3k cases last year is just ridiculous. I mean, you'd think banks would have some sort of system in place to prevent this kind of thing from happening, but clearly not.

And it's not just the victims who are affected, it's also their credit scores and financial stability. My friend got stuck with a huge debt after being scammed and now they're struggling to get loans or credit cards. It's just so unfair.

I think banks need to step up their game when it comes to handling scam cases. Refunding victims quickly is the least they can do, especially since government is introducing new rules to make them do it anyway .

"A good system is not just one that produces the right answer; it's a system that knows when it has made a mistake." (Thomas H. Kean)