Article 6G0SM TSB reimbursed 15 times more customers’ fraud losses than Monzo in 2022

TSB reimbursed 15 times more customers’ fraud losses than Monzo in 2022

by
Miles Brignall
from Technology | The Guardian on (#6G0SM)

Regulator figures show huge differences in banks' treatment of fraud victims, from 94% of claims refunded by TSB to 6% at Monzo

The shocking disparity in the way the banks refund fraud victims has been laid bare in figures that show TSB refunded 94% of customer fraud claims in full last year, while for Monzo the figure was just 6%.

According to the data, published on Tuesday by the Payments System Regulator (PSR), TSB was the standout bank in terms of refunding victims of authorised push payment (APP) fraud.

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