Skip to Content

What is advance fee fraud?

Advance fee fraud is where fraudsters persuade you to make upfront payments for further financial gains, such as loans or income.

If this has happened to you, please get in touch with us by tapping Help on the bottom right of the app, search for "Reporting a scam", tap the help article and then "Report Fraud" and complete the steps in the form.

How this scam works

The fraudster will promise you a significant share of a large sum of money in return for a small upfront payment. Once you’ve made the first payment, it’s likely they’ll invent more fees you’ll need to send.

Made up fees can include:

  • A fee to release money after completing a loan application

  • A fee to get money you weren’t expecting, possibly from a long-lost relative

  • A fee to receive money from selling items online

Spotting a Job Scam 💼

Fake job scams are on the rise, often starting with a random WhatsApp or Telegram message.

Red flags to watch for 🚩

  • Unrealistic pay: If a job offers £200 a day for liking TikTok videos or rating products, it’s a scam.

  • Pay-to-work: Legitimate employers will never ask you to pay for your own training, software, or account activation.

  • The "Money Mule" trap: If a "boss" asks you to receive money into your bank account and then send it elsewhere, stop. This is money muling, which is a serious crime that could lead to your bank account being closed.

The Scammer’s Toolkit

  • Fake Proof: They’ll show you screenshots of other people getting paid or "official" websites they’ve built to look legitimate.

  • Group Chat Pressure: They might add you to a WhatsApp group full of "other employees" (who are actually fake accounts) all talking about how much money they're making.

  • Payment Methods: They will almost always ask for payment via bank transfer or cryptocurrency. These are immediate and much harder for us to get back for you.

How to stay safe

Check if the business is real and look for independent reviews, not just the ones they send you. You should always research the company.

If it’s a loan, check the FCA Register. If they aren't there, they aren't authorised to lend money.

Always protect your data. Never give your bank login details or copies of your ID to someone who messaged you out of the blue.

The bottom line: If you have to pay money to receive money, it’s a scam. Every time.

For more advice on how to keep yourself safe from fraud, head to monzo.com/fraud.

Was this article helpful?

Related articles