FOS sees 30% increase in money transfer scams 

 

The Financial Ombudsman Service has seen a 30% increase in complaints about “authorised” payment scams in the second quarter of this financial year compared to the same period last year.

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FOS costs rise as waits lengthen

The average cost per case for the Financial Ombudsman Service (FOS) has risen to £1040 in 2020/21 from £920 the previous year.

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FOS to encourage firms to settle complaints quicker

The Financial Ombudsman Service has proposed changes to its case reporting process to encourage firms to settle early and reduce waiting times.

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FOS warns of ‘dramatic’ rise in scam complaints

The Financial Ombudsman Service has reported a “dramatic” 66% rise in fraud and scam complaints in the first quarter of its 2021/22 year.

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