Complaints about fraud and scams, current accounts and credit cards are at record highs, according to new figures published by the Financial Ombudsman Service (FOS) today.
The service, which resolves disputes between businesses and their customers and is free for consumers, received 73,692 overall complaints between July and September 2024. In the same period in 2023/24 it reported that it received 46,716 cases.
The newly released figures reveal that fraud and scams cases have now reached their highest quarterly level, with consumers lodging 9,091 complaints in the three-month period. That’s significantly higher than the 6,264 new fraud and scam cases lodged in the same period last year. In the previous quarter (April to June 2024) there were 8,734 fraud and scams complaints.
https://ifamagazine.com/financial-ombudsman-service-sees-complaints-increase-by-more-than-50/