Lost more than £85,000 to fraud?

Richardson Hartley Law helps fraud victims to recover money even after their bank or the Financial Ombudsman Service has refused to pauy out their claim in full.

Very often our clients have come to us after being frustrated by the Payment Systems Regulator’s (PSR) £85,000 reimbursement cap or if they have been refused a payout by the Financial Ombudsman Service (FOS) altogether.

We use a variety legal and practical routes to help to recoup your money.

As well as PSR and FOS schemes, we examine civil litigation routes, professional negligence claims, international asset tracing and innovative out-of-scope ways to help you to recover lost funds.

There have been positive movements in the law to help retrieve funds from sending and receiving banks through litigation.

As a fully-regulated law firm that specialises in fraud recovery and investment loss claims we have developed a full arsenal of different routes to help our clients.

We offer competitive fees and a variety of funding agreements.

If you have lost more than £85,000 and/ or had your claim rejected by FOS contact us for advice.

Help to reclaim your fraud loss in full.

Start Your Claim Now

JavaScript is required to view this form. Please enable JavaScript in your browser settings.

When the bank says no – and the £85,000 cap isn’t enough.

The PSR reimbursement scheme is a floor, not a ceiling. If you’ve lost more than £85,000 to fraud, or if your bank has refused your claim, there are further legal routes available. We specialise in exactly these cases.

We can help if:

Your bank has refused your APP fraud refund claim
You lost more than £85,000 – beyond the PSR reimbursement cap
The Financial Ombudsman rejected your case
Your loss involved crypto, international transfers, or isn’t covered by standard rules
You’ve been waiting months and getting nowhere

The £85K problem

Since October 2024, UK banks have been legally required to reimburse APP fraud victims up to £85,000 through the Payment Systems Regulator‘s mandatory reimbursement scheme. This is a significant step forward -but it leaves meaningful gaps.

If you lost more than £85,000, the PSR scheme only covers the first £85,000 of your loss. If your bank refuses your claim, disagrees with the amount, or if your payment type isn’t covered by the scheme, you need to look beyond the standard process.

The good news: there are multiple further avenues available- the Financial Ombudsman Service with its £445,000 award limit, civil litigation, professional negligence claims and specialist legal claims under banking and financial law. We know how to use all of them.

Recovery routes

PSR Scheme: Mandatory reimbursement The October 2024 rules require banks to reimburse eligible victims within 5 working days. The starting point for all UK bank transfer scam claims. Cap: £85,000 maximum Best for: Losses under £85k, first-time claims, recent payments via Faster Payments or CHAPS

Financial Ombudsman: FOS escalation If your bank refuses, the FOS provides independent review. It can order banks to pay well above the PSR cap and award additional compensation for distress and poor complaint handling. Cap: £445,000 (for acts on or after 1 April 2019) Time limit: 6 months from the bank’s final response letter

Civil Litigation: Legal proceedings. Where the FOS can’t help -due to high value, complexity, or exhausted FOS options – civil court proceedings may be available, including freezing orders and proprietary claims. Cap: No upper limit Best for: Losses over £445k, post-FOS rejection, complex multi-bank or international cases

Specialist Claims: Out-of-scope losses. Crypto payments, international transfers, pre-October 2024 cases, and losses involving unregulated platforms. Legal routes under banking law, unjust enrichment, or constructive trust may still apply. Applies to: Crypto scams, SWIFT/SEPA fraud, pre-2024 losses, regulated firm failures

Professional Negligence: Regulated entities. We examine every route to recover your money. One of the first angles we look at is professional negligence where a solicitor, accountant, regulated-advisor or auditor may be held accountable.

Asset Tracing: Reclaiming your money from overseas. We work with a number of specialist asset tracing firms who help to track down and recover stolen funds.

LEGAL LANDSCAPE

What the courts and regulators say

UK fraud recovery law has developed significantly since 2023. Here are the key developments that may affect your case.

Retrieval duty – sending banks The High Court has suggested that sending banks may owe customers a duty to take reasonable steps to recover funds after a fraud. The position is still developing through 2025 and represents a significant potential avenue for victims. Barclay-Ross v Starling [2025] EWHC

Unjust enrichment route Where standard reimbursement fails, victims may have a civil claim against the receiving bank or third parties on grounds of unjust enrichment -a route the courts have explicitly left open in recent decisions. Larsson v Revolut [2024] EWHC 1287

Don’t assume the answer is no.

We’ve recovered money for clients who had already been turned down by their bank and by the Financial Ombudsman. Let us review your case- free, in confidence, with no obligation.