APP Fraud - Recovery Failure
Bank failed to recall misdirected payment in time
Mandatory ADR
Max award: £445,000 (from 1 Apr 2025)
Immediate action on report; 8 weeks complaint; FOS 6 months
Uphold rate: 34% (FOS 2024/25)
Key Legislation
PSR 2017; FCA BCOBS — PSR 2017 Reg 91; BCOBS 5A; Consumer Duty PRIN 2A
Complaint Route: Financial Ombudsman Service
Type: Ombudsman (binding on firm)
Max award: £445,000
Uphold rate: 34%
Average resolution: 180 days
Pre-conditions: Complain to firm first; firm has 8 weeks to resolve; then refer to FOS within 6 months of final response
Visit FOS websiteCompanies in This Sector
All UK banks
Annual complaint volume: 305,726 (FOS 2024/25 total)
Note: Compensation range: Consequential loss + D&I