The Contingent Reimbursement Model (CRM)

If you fall victim of a Scam, you are protected under The Contingent Reimbursement Model (CRM) Code. This was set up in 2018 to reduce the impact and occurrence of APP Scams. It is designed to help normal people, who have fallen victim of a scam and acted appropriately, get reimbursed. Many of the UKs largest banks have signed up to this CRM Code.

After alerting your bank of the fraudulent nature of the payment you made, you should send a formal claim to the bank. This should be a letter to explain:

The purpose of the payment and the amount
How you made the payment (i.e., electronic transfer, cash, cheque, etc.)
How the fraudsters first got in touch with you
What steps you took to address any warnings you received from your bank (if any) prior to sending the payment

According to the Banks' regulatory obligations, upon receiving this report, they must respond to you within 15 business days. If the bank is unable to respond within this time-period, they must inform you as to why not. They are then allowed an added 20 business days to respond with a final decision.

UKs banks that have signed up to the CRM Code

Bank of Scotland
Barclays
Cahoot
Carter Allen
First Direct
Halifax
HSBC
Intelligent Finance
Lloyds Bank
M&S Bank
Metro Bank
Nationwide Building Society
NatWest
Royal Bank of Scotland
Santander
Starling Bank
Ulster Bank