Crypto Scam Claims: What Your Bank Must Check

After a scam, it is easy to feel the bank holds all the power. It does not. Banks have duties when they handle your claim, and knowing them helps you push for a fair review. This guide covers what a bank should check and how to hold it to that.

Your bank is not just a bystander

Many people assume a scam loss is entirely their own problem. In reality a bank that processed the payments has a role. It is expected to look at the warning signs around the transactions and to handle your fraud report properly, not simply wave it away. Knowing this changes how you ask.

What a fair review should weigh

A bank handling your claim should look at whether the payments were out of character, whether any warning was given before they went through, and how quickly it acted once you reported. These are the points a good review considers, and the points you can ask it to address in writing.

What you need to bring

A bank can only review what it can see. Give it a clean timeline, the payment details, the platform name and the receiving addresses. The clearer your file, the harder it is to brush off, and the easier it is to escalate if the answer is unfair.

How to push a fair claim

1. Report in writing and keep a dated copy.
2. Ask the bank to confirm what checks it ran on the payments.
3. Request its final response in writing, not by phone.
4. If the outcome is unfair, take it to the Financial Ombudsman.
5. Keep every reference number and reply together.

Phrases that signal a weak review

• ✗ You authorised it, so nothing can be done
• ✗ Crypto is not our responsibility
• ✗ A refusal with no mention of the checks run
• ✗ Pressure to accept a phone answer and move on

What if the bank still says no? Request the final response and take it to the Financial Ombudsman, which reviews these claims independently.

crypto scam claims what your bank must check: A case we saw

A customer was told nothing could be done because she had approved the transfers. She wrote back and asked what checks the bank ran on three large, out of character payments and what warning it showed.

The written answer was thin, so she escalated to the Ombudsman with her timeline. The independent review looked at the facts the first reply had skipped, which was all she had asked for from the start.

crypto scam claims what your bank must check: In a nutshell

1. Banks have duties when they handle a scam claim.
2. A fair review weighs unusual payments, warnings and speed.
3. Bring a clear timeline and payment details.
4. Get the final response in writing and escalate if unfair.

crypto scam claims what your bank must check: Other reads from us

1. Section 75 Claims: Credit Card Refunds for Crypto Scams
2. Were You Used as a Money Mule Without Knowing?
3. How Long Do You Have to Claim a Scam Refund?
4. Tricked Into a Bank Transfer? Can You Get a Refund?
5. How to Report a Crypto Scam to an Exchange

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General information only. ReclaimDC does not promise any recovery outcome.