A Monzo customer who lost money to a job-related crypto scam has successfully recovered their money after the Financial Ombudsman Service intervened. The Ombudsman found that Monzo failed to step in quickly enough when clear warning signs of fraud were present. This case shows that even when scams involve misleading circumstances, banks can still be held responsible for protecting their customers.
Miss R, actively searching for work, was targeted with a convincing online job opportunity. The scammers required upfront cryptocurrency payments to access commission-based tasks, exploiting her financial vulnerability.
Between 21–29 November 2023, Miss R made 11 payments totalling £15,825:
– 3 payments on 21 Nov (total: £2,730)
– 1 payment on 22 Nov (£700)
– 4 payments on 27 Nov (total: £5,009)
– 3 payments on 29 Nov (total: £7,386)
The increasing value and frequency of payments is consistent with known scam patterns.
Fraudsters used a fake platform to show accumulating commission earnings. This manipulation kept Miss R engaged, believing she would soon earn a return. The fraud only became apparent when she was unable to withdraw her earnings.
What Monzo should have done:
Concerns were raised regarding Monzo’s conduct in relation to the FCA’s expectations, including:
Routing funds through customer’s own account
Despite Monzo’s failure, Miss R bore 50% responsibility:
Ombudsman ruled Monzo should refund 50% of the payments made from payment 7 to 10, total amount of payment awarded was £5,315.50 plus 8% interest from the payment dates. The intervention point defined Monzo’s liability.
Miss R’s recovery shows banks are accountable even when customers share blame. The case emphasises how understanding scam tactics, asking the right questions, and timely intervention are essential for fraud prevention.
This case study is based on publicly available Financial Ombudsman Service decisions. Every case is judged on individual facts and circumstances.
At Compensation Adviser, we specialise in helping people recover money lost to cryptocurrency scams. Our expert team understands how these scams work — and challenge financial institutions when fraud checks fail.
Here’s what you can expect from our service:
A dedicated crypto claims team – We understand the complexities of crypto fraud — including fake platforms, phishing scams, and wallet theft.
A proven track record – We’ve successfully helped clients reclaim losses from financial mis-selling and scam-related cases.
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Current expertise – We stay informed on the latest scam tactics, banking standards, and Financial Ombudsman decisions.
Fair and transparent pricing – Our success fee is 15% + VAT, and you only pay it if we recover money for you. We also cap our fees at one of the lowest levels in the industry — ensuring more of your recovered funds go back to you.
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If your bank let suspicious payments go through, especially to crypto platforms or unknown individuals you may have a case.
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