Scam complaints reach highest ever level, data shows

06 Sep 2024

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.'