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UK Financial Ombudsman Service warns consumers about rise in investment scams

Investment scams are the fastest growing “authorised” scam complaint that the UK Financial Ombudsman Service (FOS) now receives.

The Financial Ombudsman Service data show that complaints about “authorised” scams increased by around a fifth in the last financial year.

Complaints about “authorised” scams increased by 30% in the second quarter of this financial year, when compared to the same period in 2020/21.

The number of fraud complaints filed with the Financial Ombudsman Service increased by 66% in the first quarter of the 2021/22 financial year.

The UK Financial Ombudsman Service (FOS) offers assistance to clients of Santander effected by recent IT issues.