25-year-old woman loses £6,000 to Monzo impersonation scam leading to credit score drop and partial compensation

Summary

A 25-year-old woman from Ashford, Kent, fell victim to a Monzo impersonation scam in March 2024, resulting in her mistakenly taking out a £6,000 loan. The scammer, posing as a Monzo representative, convinced her to transfer money and apply for the loan to cancel a fraudulent request. After realizing the scam, she contacted Monzo, but the bank initially did not remove the loan from her account. Her credit score dropped from 995 to 637 due to missed repayments on the loan. On May 27, Monzo resolved the issue, closed the loan, updated her credit file, and provided her with £890 in refunds and compensation. A Monzo spokesperson apologized for the delay and stated that the loan was canceled and interest was repaid to prevent credit score damage.