crypto scammers stole £55,000 from my father

mycoinbanking become recognized to barclays however the financial institution has simplest provided to repay him half of what he lost

for the duration of the pandemic my 75-yr-vintage father turned into centered with the aid of scammers via e-mail and whatsapp who convinced him they were funding managers who should broaden his existence savings of £fifty five,000 into a notable sum by way of making an investment in cryptocurrency.

he had currently retired and turned into concerned he had no longer stored sufficient for his, and my mother’s, retirement, so become easy prey. he also has very little nous and gave the scammers, an outfit called mycoinbanking, his account information along with kind codes and account numbers.

the result turned into he misplaced the lot. i only found out whilst i finished his ultimate tax return as he had been too embarrassed to tell us.

we filed a fraud claim with barclays and its final selection was to reimburse him half of of what turned into taken. its cause became he ought to percentage legal responsibility.

we are so disillusioned. my dad is the victim. we’re indignant that barclays would tell my dad – who struggles to use a mobile or the net – that he’s responsible. i suppose it has a obligation of care.

the scammers had been recognized to barclays, so it need to have flagged those transactions. that it didn’t is a failure on its part and it have to supply a complete refund.

my mother and father now have little or no money and are frightened approximately the future.

vs, woking

fraud ranges have soared in latest years with the economic ombudsman provider, which mediates among purchasers and agencies, simply this week warning of a rise in savers falling for fake investment schemes.

the scammers who targeted your father promised bumper returns to fund a cushty retirement. as an alternative, they emptied his account.

we asked barclays to review your father’s case but, unluckily, it has now not changed its mind. it has arrived at what’s referred to as a “shared blame” selection, because of this there are elements of each purchaser and bank blame. this is why your father acquired a 50% refund of £27,500.

barclays says the financial conduct authority posted a web warning about mycoinbanking in 2019 (your father become focused in october 2020) and this became to be had to locate if due diligence become done earlier than the investments started out.

it says it also flagged several payments, and had scam conversations with him, but he authorised them. as those conversations were in a department it does now not have transcripts to be sure the questions asked had been sufficient.

barclays says the fraud claim became thoroughly investigated and, with out a new facts, its function is unchanged. your father has the right to searching for an unbiased evaluation via the ombudsman. you have got carried out for one but, as an illustration of the size of the problem, have been instructed the wait is at least four months because of the variety of instances it is handling.

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