koho.ca

I am extremely disappointed with how my situation has been handled by KOHO. I reported fraud and fi

I am extremely disappointed with how my situation has been handled by KOHO.

I reported fraud and filed THREE police reports before escalating this issue. Based on guidance from police, I was told that the financial institution would be responsible for investigating the fraud and that reimbursement could be expected depending on the outcome of that investigation.

Despite this, KOHO denied my claim without properly reviewing the evidence or conducting a meaningful investigation.

Instead of support, I experienced what felt like victim blaming from staff. There was no accountability, no transparency, and no clear explanation for the denial.

The impact has been devastating. As a result of this situation, my family lost our home, all of our belongings, and my vehicle was towed. I have two children, including a 3-year-old with special needs, and this has directly affected our ability to maintain basic stability.

KOHO should not be functioning as a bank if they are unable or unwilling to properly handle fraud cases and protect their customers. This raises serious concerns about their processes and responsibility to consumers.

I am requesting:
• A full and proper investigation of my case
• Review of all police reports submitted
• A clear explanation for the denial

All documentation, including police reports and communication history, has been preserved. I will be pursuing further escalation through the appropriate regulatory channels.

Consumers should be aware of the risks based on my experience.


UPDATE
​I am a low-income mother whose family has been devastated by KOHO’s gross negligence and total failure of security protocols. Over $12,000 was stolen—including vital government retroactive payments for my children—because KOHO refused to act for two months while a fraudster had control of my login.
​The Security Breach:
After a roommate (not a friend) stole my technology and confidential documents, I contacted KOHO immediately. I discovered the perpetrator had changed my account email and phone number. I begged KOHO to remove the fraudster’s email. They did nothing for 60 days. They allowed a known criminal to remain attached to my account, effectively facilitating the theft of every cent I had.
​The "Investigation" Farce:
​Police Reports Ignored: I filed three separate police reports and provided file numbers. KOHO ignored them, then later had the audacity to claim I provided them "too late."
​Customer Service Failures: I spent weeks re-explaining my trauma to dozens of agents because nobody was documenting the case or escalating it.
​Dishonest Labeling: They called this "friendly fraud" to avoid taking responsibility. There is nothing "friendly" about being robbed and having your children’s livelihood stripped away.
​Withholding Records: I requested my transcripts; they sent an empty email claiming the records were attached and then ignored my follow-ups.
​The Impact:
KOHO’s inaction isn't just poor service; it is a breach of their purpose as a financial institution. They watched my account get drained for 60 days and then blamed the victim for their own security failures.
​I am not going away. I am filing complaints with the OBSI (Ombudsman for Banking Services) and the FCAC. If you value your money or your family’s security, stay away from KOHO. They do not protect you; they protect their own bottom line.

Date of experience: Apr 02, 2026