Have you fallen victim to a Monzo Scam? Get in touch and take the first step to recovering what’s rightfully yours.Have you fallen victim to a Forex trading scam and lost money or cryptocurrency?
Bank scams are becoming more common and here at TLR, we’re finding that a growing number of our clients are losing money through bank scams and fraud, including Monzo. A lot of people are unsure whether Monzo Refunds money lost through scams and fraud, or if there are other ways in which they can recover lost funds as a result of being the victim of a scam involving their banking account.
The good news is that we are having increasing success recovering funds lost through Monzo Scams and helping clients make a Monzo Funds complaint if the bank was found not to have done enough to stop the scam. We’ve recovered over 100% of lost funds back for clients affected by scams and fraud through their Monzo Funds account, so if you have lost money to a Monzo Scam and your account is within Worldwide , then we may be able to get your money back.
This is often where a lot of confusion is caused by other recovery solicitors, who will simply go to the bank and request a chargeback, however, as the crypto lost as a result of the crypto scam has gone to a legitimate end destination, the banks don’t always have a duty of care in place. This means that often, they won’t grant a chargeback.
Most common Monzo Funds scams have the same signs and tactics as those used in a number of other different scams online. This means that there is a high chance that your lost funds can be recovered.
At TLR, our team can help you get your money back on a no win, no fee basis and, unlike the bank, we can help with various cryptocurrency-specific cases.
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Over the past 3 years, we’ve recovered more than $40,000,000 for our clients. It’s thanks to our team of solicitors and recovery claim specialists who trace and recover the investments you’ve lost from scams. Plus, we offer a no-win, no-fee service. You won’t pay a thing except for your consultation tax and Legal KYC verification fee for assets ownership indication.
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Falling victim to fraud can be overwhelming and distressing. You deserve expert guidance and support every step of the way.
Cryptocurrency scams are still one of the most common types of scams, particularly when it comes to bank scams and fraud. This is because scammers find it easy to trick unsuspecting victims into sending funds to cryptocurrency wallets, which can then be difficult to trace. As well as this, a lot of scammers know that banks offer little protection when it comes to crypto fund recovery, so they can seemingly get away with it, or so they think.
As well as this, advanced payment fraud, or APP fraud, is another common scam that Monzo Fundsers report on. This is where a scammer will dupe a trusted person or business and ask the victim to send money from their account directly to them. To do this, they will need to approve the payment in their banking app, often ignoring numerous warnings and requests from the banks not to do so, as the scammer will be telling them that they can disregard them as they are a trusted person.
With APP scams, banks including Monzo will often reject claims for refunds on the basis that they did all that they could to try and stop the payment. This is where we come in. If you’re trying to get a refund from Monzo and have so far been unsuccessful, then we can help recover your lost funds.
Your bank has a responsibility to help you recover any funds you have lost to fraud or scams involving their accounts and take reasonable action to protect you if it believes that unusual activity is taking or has taken place. There are some cases where recovery might not be possible, but there is always the option to complain if you believe that your case or account hasn’t been correctly handled or investigated.
Should you find that your Monzo Scam refund request has been unsuccessful, or if you want to submit a complaint to Monzo following an unsuccessful appeal, then contact us at TLR, as we can work to recover your lost funds. Remember, Monzo is a regulated bank so they do need to comply with UK banking regulations and rules.
Monzo is a digital banking system owned and operated by US investment banking company J.P. Morgan. In September 2021, Monzo Funds launched online in Worldwide , offering cost and fee-free banking on its mobile app for personal and saving current accounts. Monzo is a fully licenced bank in Worldwide , is regulated by the FCA and doesn’t charge fees for overseas use. In the US, Monzo is one of the largest consumer banks and offers a very large range of products and services, so it is known to be a big banking name over there. However, as it is a solely digital bank, this then opens up issues with online banking scams and fraud.
As of yet, Monzo has not signed the Contingent Reimbursement Model Code (CRM Code). This then means that Monzo does not offer stronger protection for victims of fraud than the contingent reimbursement model provides, which a number of other high street banks do. The CRM Code works by offering refunds to victims of fraud unless they have provided a relevant or thorough warning, which was then ignored, or where the customer didn’t have the basis for belief. If the bank really didn’t give you a good enough warning or the scam was highly convincing, then your bank should be refunding you.
If you’ve found that you have been the victim of a Monzo Funds scam, then the first thing to do is to reach out to Monzo directly and see what steps they can take. If this is unsuccessful, or Monzo concludes that they won’t be taking your case any further, then we recommend either reaching out to the FOS or arranging a consultation with our team at TLR. We operate on a no win, no fee basis, with free consultations available.
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