Scammed through social media
Social media platforms are the starting point for a huge proportion of scams — from fake investment ads to marketplace fraud. If you paid by bank transfer after being targeted on social media, your bank may be required to reimburse you.
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How social media scams work
Fraudsters use social media platforms to reach victims at scale. Common scenarios include fake investment ads (often using fabricated celebrity endorsements), marketplace purchase scams on Facebook or Instagram, romance scams that start on dating or social apps, and impersonation accounts pretending to be real people or businesses.
The fact that the scam started on social media does not affect your right to claim from your bank. What matters is how you paid.
Your bank’s obligations
If you transferred money via Faster Payments or CHAPS after being targeted on social media, the PSR mandatory reimbursement rules apply. Your bank should also have applied fraud detection checks — such as flagging payments to new payees, applying Confirmation of Payee, and issuing effective warnings.
Banks are increasingly expected to detect patterns associated with social media scams, such as payments to cryptocurrency exchanges following social media contact, or multiple payments to new payees.
Preserving evidence
Screenshots of the social media ads, profiles, or messages are valuable evidence. If possible, capture the scammer’s profile, the ad content, any messages exchanged, and the platform the scam appeared on. Even if the profile has been deleted, your screenshots can support your claim.
Also report the scam to the social media platform itself, as well as to Action Fraud.
Key points
- The scam starting on social media doesn’t affect your right to claim from your bank
- PSR rules apply if you paid by Faster Payments or CHAPS
- Screenshot everything — ads, profiles, messages, even if they’ve been deleted
- Report to the social media platform and Action Fraud
- Banks should detect fraud patterns linked to social media scams
Common Questions
Scammed through social media FAQ
No. Your claim is against your bank, not the scammer. If you have screenshots of the profile or ads, that’s helpful evidence, but even without them your bank statements and your account of what happened form the basis of the claim.
Yes. Report the scammer’s profile/ad to the platform (Facebook, Instagram, TikTok, etc.) and to Action Fraud. This creates a record, and platforms may take down the scammer’s account to protect others. However, your refund claim is against your bank, not the platform.
We operate on a no-win, no-fee basis under a Damages-Based Agreement. If your claim is unsuccessful, you pay nothing. If we recover funds for you, our fee is a percentage of the amount recovered. The exact percentage is clearly explained before you sign anything, as required by SRA regulations.
The PSR mandatory reimbursement scheme applies to payments made within 13 months. For older cases, the Financial Ombudsman can consider complaints up to 6 years from the event, or 3 years from when you became aware. We can assess your eligibility during the free initial review.
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