The bank transfer is the only important detail, and that isn’t an assumption as the screenshot makes a clear mention of Faster Payments (which is a bank transfer).
I’ve had years of banks - and other services, Paypal, eBay, AirBNB etc - warning against using bank transfers because they’re the same as handing over cash and have near zero chance of recovery.
Whichever way you cut it, Monzo haven’t acted incorrectly in any way.
Why is there a near zero chance? I could be way off here, but you hear of people accidentally receiving funds from wills, prizes, house sales etc. Funds that were intended for someone else but someone put a digit in wrong. And the funds get recovered…
I don’t know But I’ve read they can and do get funds recovered.
I don’t know why funds can’t be recovered, banks need proof of ID to open an account. So if you had evidence that it was fraud, why can’t the recipients bank return the money, or if they refuse or they’ve withdrawn it, give you / your solicitor their information to take them to court? Then place that individual on a list, similar to insurance companies do, that flags to other banks that this geezer is a dodgy one and to expect fraud.
It also generally requires co-operation from all four parties involved:
The sender
The sender’s bank
The receiver
The receiver’s bank
Also, in many cases when money has been recovered, it would be from the sender complaining to their bank, who then works to retrieves the money from the receiver’s account at the receiving bank.
Many other cases where money has been recovered have been by going through a court process.
Incredibly weird. It would be interesting to compile twitter accounts who seem to hate Monzo, and see what similarities they have. It’s so weird seeing barely used accounts, or brand new accounts obsess on stuff like this
That does seem to be a specific fraudster trick. They love to focus on specific names and spread the gospel all over the internet wherever they can about how this particular person is the devil and personally killed their children.