Data published by the Financial Ombudsman Service has revealed that fraud and scam complaints have hit their highest ever level.
The data showed that more than 8,700 scam cases were reported in a three-month period, with more than half of these being related to online bank transfers.
The Financial Ombudsman Service said that fraud is becoming ‘more complex and convincing’, with criminals involving multiple bank accounts.
In the first quarter of this financial year, 8,734 complaints were made regarding fraud and scams. Over half of these were related to customer-approved online bank transfers, termed authorised push payment scams.
Abby Thomas, Chief Executive and Chief Ombudsman of the Financial Ombudsman Service, said: ‘Being a victim of a fraud and scam is a horrendous experience – not just financially, but emotionally too. That’s why it’s disappointing to see complaint levels rising to even higher levels.
‘We often hear from people embarrassed to have fallen victim to a fraud, but these crimes can be complex and incredibly convincing, and nobody should be afraid to come forward.’
11/09/2024
View all >
30/03/2026
Hundreds of employers handed penalties for illegally underpaying workers
Almost 400 employers from across the UK have been named for failing to pay the minimum wage to tens of thousands of workers, says the government.
READ MORE
HMRC website seeks to close tax knowledge gaps
HMRC has launched a new ‘Tax Confident’ website which it says will help people fill their tax knowledge gaps.
Self-employed gender pay gap is £51 per day
Self-employed women in the UK earn £51 less per day than men on average, according to IPSE, the self-employed association.
Sign up to keep in touch to receive our latest news and industry updates.
* *
Yes, I would like to receive email updates providing me with the latest finance news, advice guides and details of future events.