Which payments are usually covered
- Faster Payments and CHAPS transfers made from a UK account to another account under someone else's control.
- Claims generally need to be made within 13 months of the last fraudulent payment.
- There is a maximum reimbursement limit per claim, set by the Payment Systems Regulator.
- Card payments and transfers to an account you control (for example your own crypto exchange account) are usually treated differently.
Where cryptocurrency fits
If you paid a scammer's bank account directly, the reimbursement rules may apply. If you first sent money to your own exchange account and then moved crypto to the scammer, the bank may say the payment went to an account you controlled. In those cases a complaint may still be possible, and a clear record of where the money went can help explain what happened.
How to raise a claim
- Contact your bank's fraud team as soon as possible and say you were the victim of a scam.
- Give dates, amounts, recipient details and copies of messages with the fraudster.
- Ask for a written outcome. If you disagree, you can complain and then refer the case to the Financial Ombudsman Service.
If you are looking at your own case rather than reading generally, our cryptocurrency investigation service explains how a case is scoped and worked, the asset tracing hub covers the network-specific work, and our overview of cryptocurrency scam recovery in the UK sets out what is realistic. Asset pages: USDT tracing, Bitcoin tracing and Ethereum tracing. You can also contact the investigations team directly.
Common questions
- Will my bank always refund an investment scam?
- Not always. Outcomes depend on how the payment was made, where it went and the bank's assessment. Ask for the decision in writing so you can challenge it if needed.
- Can a tracing report help a bank complaint?
- It can help show the sequence of payments and where funds ended up, which is useful context for a bank, the Ombudsman or a solicitor.
Sources
Have a case you want reviewed?
We scope at intake and tell you honestly whether the onchain data supports a traceable case.