Complaints about bank fraud and scams are at an all-time high

The Independent | May 15, 2019 at 10:37 AM
  • Complaints about banking scams and fraud have surged 43 per cent to an all-time high.
  • The “unacceptable” rise pushed the total number of complaints to the Financial Ombudsman Service (FOS) up 14 per cent to 388,392 – the biggest annual total in five years.
  • The Financial Conduct Authority (FCA) capped interest rates and charges on payday lending but this has sent many companies out of business, leaving those who have complained that they were mis-sold loans unable to claim compensation.