Moneda Capital Warning

MSE_JC

Hi all,

The MSE News Team have provided us with some information that might be useful:

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What is happening?

Moneda - which claims to be a ‘fixed-rate bonds provider’ - is currently under investigation by the Financial Conduct Authority. The firm has also been added to the FCA’s warning list.

What can you do if you’ve invested?

After any successful criminal proceedings the FCA said there may be compensation due to those who invested and lost out as a result. 

Consumers who invested with Moneda can make an Authorised Push Payment (APP) Fraud reimbursement claim, by contacting the bank they made the payment to Moneda from, informing it that the FCA is investigating the firm and providing case reference UB00019.

The FCA is also asking those affected to call its helpline on 0800 111 6768.

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All the best,

MSE Forum Team

poseidon1

MSE_JC said:

Hi all,

The MSE News Team have provided us with some information that might be useful:

---------------

What is happening?

Moneda - which claims to be a ‘fixed-rate bonds provider’ - is currently under investigation by the Financial Conduct Authority. The firm has also been added to the FCA’s warning list.

What can you do if you’ve invested?

After any successful criminal proceedings the FCA said there may be compensation due to those who invested and lost out as a result. 

Consumers who invested with Moneda can make an Authorised Push Payment (APP) Fraud reimbursement claim, by contacting the bank they made the payment to Moneda from, informing it that the FCA is investigating the firm and providing case reference UB00019.

The FCA is also asking those affected to call its helpline on 0800 111 6768.

---------------

All the best,

MSE Forum Team

An interesting basis for savers/investors to obtain compensation via their own bank albeit only for those who invested with Moneda after 7 October 2024. There is also a 13 month time limit for such claims so those who invested last year the clock is very much ticking.

Potentially good news for affected savers who have been following the MSE thread. Hopefully the FCA has solid data on all Moneda investors with a view to informing them direct of this compensation route.

I suspect a particular forum contributor ( you know who you are) can claim a degree of credit for the FCA progressing matters albeit with  still a bit of a  time lag. Still a faster response compared to the LCF debacle.

masonic

While the APP route is an interesting one that gives some victims some potential recourse, it sets a precedent that is likely to have unintended consequences for customers trying to make payments to legitimate firms.

poseidon1

masonic said:

While the APP route is an interesting one that gives some victims some potential recourse, it sets a precedent that is likely to have unintended consequences for customers trying to make payments to legitimate firms.

Have to agree, APP does seem to come with a degree of 'moral hazard'  in placing far more obligations on banks to police what their customers are doing with their money.

A kind of get out  of jail free card for careless individuals incapable of conducting basic due diligence on the companies they choose to entrust their money with.  Although you apparently won't get your money back via APP if found to be grossly negligent, one wonders how that will be ascertained other than in  cases of obviously vulnerable consumers.

masonic

I think there's only one entity I'd weigh up for gross negligence in this case, but they are at least following leads from members of the public now.

bonnylad22

Hi can anyone point me on how to try and get my investment back from moneda

wmb194

bonnylad22 said:

Hi can anyone point me on how to try and get my investment back from moneda

See the first post re contacting the bank you made the payment(s) from.

Elvis19681968

I also invested a large sum with Moneda Capital. I reported them to FCA And the Halifax Bank. The bank got my money back. Under the PSA Scheme they reimbursed my account upto £85000. Good luck.

TadleyBaggie

Were you trying to reply to someone?

wmb194

Elvis19681968 said:

I also invested a large sum with Moneda Capital. I reported them to FCA And the Halifax Bank. The bank got my money back. Under the PSA Scheme they reimbursed my account upto £85000. Good luck.

Did you mean to reply to this thread?:

https://forums.moneysavingexpert.com/discussion/6620942/moneda-capital-warning