APP Scam

Basically there was a proposal for 2.9p to be set aside on all bank transfers, paid by the bank, which would go into a fund to reimburse victims. But Monzo (and others) didn’t agree with that as they believe they would be disproportionatly affected financially - as they have better anti-fraud measures that some older banks. So I guess it is cheaper for Monzo to refund those have been scammed than than to signup to the code.


That’s good to hear :grinning:! But then why isn’t this publicised anywhere on your website? I think it’s on your blog, Twitter, this forum and media articles, but not officially stated on the one place I’d say is most important, the Monzo Website (At least I couldn’t see any mention of it, please tell me if I’m wrong). Is it treated more like a need to know bases for security reasons or smt?

Again, not something I would know the answer to unfortunately! We’re not hiding that this is how we approach reported scams at all as you can find our stance on it in all the areas you mention :blush:

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So SO happy for you Andy, what a rollercoaster of emotions you’ve been on. So relieved for you! A very scary and mentally traumatic experience. Let’s hope this thread prevents even just one person getting scammed :pray:t3: