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FOS says fraud and scam complaints at highest ever level

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Published on: 04 September 2024

Published by LNB News

LNB News 04/09/2024

Document Information

Issue Date: 04 September 2024

Published Date: 04 September 2024

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Financial Ombudsman Service (FOS) has announced that fraud and scam complaints are at their highest ever quarterly level, with more than 8,700 such cases in just a three-month period. The FOS says the rise in cases is due to a number of factors including increasing numbers of multi-stage frauds which can see consumers put in multiple claims due to the number of firms involved; a growth in people inadvertently using their credit or debit cards to pay fraudsters; and more online fraud cases being brought by professional representatives.

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