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Ombudsman News looks at fraud and scam complaints

The latest edition of Ombudsman News warns customers to be extra vigilant about fraud and scams following a significant rise in cases seen by the FOS in the last 12 months. The FOS received 5,025 fraud and scam complaints in Q1 of FY 2021/22, which represents a 66% increase on the same period during the previous year.

Example complaints include: problems caused by fraudsters posing as a customer’s bank and convincing them to move their money to a fake ‘safe account’; and consumers being scammed by paying for goods via a bank transfer but not subsequently receiving what they paid for.

The FOS has upheld 60% of fraud and scam complaints in the last quarter but says that banks and other financial institutions need to do more to resolve complaints fairly before people are forced to approach the FOS for help.

Lucy Hadrill