Masonry structures are particularly vulnerable to dynamic actions such as earthquakes, low- and high-velocity impacts, and blast loads due to their low tensile strength and brittle behavior. In recent years, strengthening techniques using composite materials like Fiber-Reinforced Polymers (FRP) and Fabric-Reinforced Cementitious Matrix (FRCM) have gained prominence, offering improved energy absorption and compatibility with historic masonry. Numerical simulations have become essential tools for evaluating the complex response of strengthened masonry under extreme conditions. This paper presents a critical review of existing modeling strategies—ranging from block-based and continuum models to macro and geometry-based approaches—with a focus on bond interface modeling. Particular attention is given to strain-rate dependent bond models under cyclic loading, a key challenge in accurately representing the nonlinear interaction between masonry substrates and composite reinforcements.