One Year of the Bank Transfer Fraud Scheme: Why Are 30% of Claims Still Rejected?
It’s now been a year since the introduction of the bank transfer fraud reimbursement scheme — a major step forward in protecting victims of financial scams.
In that time, the scheme has helped return an incredible 88% of stolen funds to people who fell victim to authorised push payment (APP) fraud — where victims are tricked into sending money to criminals posing as legitimate contacts.
However, despite this progress, around 30% of claims are still being rejected. So, why is that happening — and what can you do if you’ve been affected?
What Is the Bank Transfer Fraud Scheme?
The voluntary reimbursement scheme, launched in 2024, was designed to ensure fairer treatment for victims of bank transfer or APP fraud.
It means that when someone is tricked into transferring money to a fraudster — for example, by a fake investment company, romance scam, or impersonation of their bank — the bank may be required to refund their losses, as long as they meet certain conditions.
For many victims, this has been a lifeline — helping them recover thousands of pounds that might otherwise have been lost forever.
Why Are So Many Claims Still Being Rejected?
While the scheme has helped thousands, around three in ten claims are still turned down. There are several reasons why this can happen:
1.The bank says you didn’t take “reasonable care”
Some banks argue that victims ignored warnings or should have spotted “red flags” — even when scammers use highly sophisticated tactics.
2.The fraud type doesn’t fall under the scheme
Certain types of scams — for example, if the payment was made through a platform or a cryptocurrency wallet — may not qualify.
3.Evidence or paperwork is missing
Banks often require detailed information about what happened and when. Without this, they may reject a claim outright.
4.Miscommunication between banks
When two different banks are involved (yours and the recipient’s), disputes about liability can delay or derail refunds.
The result? Many genuine victims are left feeling confused, blamed, and unsure where to turn next.
What Can You Do If Your Claim Was Rejected?
If your claim for reimbursement has been refused — or if you haven’t yet reported the fraud — don’t lose hope.
You have the right to challenge the decision, and in many cases, claims have been successfully overturned with the right evidence and legal support.
At Sarah Waddington Solicitors, we can help by:
•Reviewing your case and the bank’s reasoning for rejection
•Explaining your rights clearly in plain English
•Helping you prepare an appeal or complaint
•Advising on the best legal route to recover your money
Have You Been a Victim of Bank Transfer Fraud?
If you’ve been tricked into sending money to a scammer — or if your bank has refused to refund you — don’t struggle through it alone.
At Sarah Waddington Solicitors, we understand how distressing and frustrating this can be. Our team can help you make sense of your options, challenge unfair decisions, and fight to get your money back.
📞 Get in touch today for a confidential conversation — no pressure, no judgement, just practical advice and support from a team that understands.
Sarah Waddington Solicitors
At Sarah Waddington Solicitors, we are proud to announce a significant milestone in our ongoing mission to support consumers trapped in unfair and unwanted timeshare contracts. We have now successfully helped over 1,500 clients exit burdensome timeshare agreements and have recovered close to £8 million in compensation related to mis-sold timeshares. To read more on this incredible milestone, visit https://sarahwaddingtonsolicitors.co.uk/news/celebrating-success-at-sarah-waddington-solicitors/
Need Advice? Contact Us Today
If you’ve been approached or pressured into a timeshare agreement this summer — whether in Spain, Tenerife, Portugal, or elsewhere — contact Sarah Waddington Solicitors today. Our team can provide you with clear, tailored legal advice and guide you through your options.