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The Guardian - UK

Business

Lauren Almeida

Monzo wrongly denied refunds to thousands of fraud and scam victims

Monzo HSBC NatWest FOS TS Anil Financial Ombudsman Service Revolut

Monzo was deemed to have made the wrong call in 34% of its 3,372 cases referred to the Financial Ombudsman Service last year. Photograph: Dado Ruvić/Reuters

Monzo has wrongly denied refunds to thousands of fraud and scam victims, the Guardian can reveal.

The digital-only bank wrongly rejected more than 1,000 fraud and scam complaints that were closed last year alone, according to data from the Financial Ombudsman Service (FOS).

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