FCA, UK Financial Ombudsman Service seek to modernise redress system
The FCA and Financial Ombudsman Service are seeking to modernise the financial redress system to help prevent it becoming overwhelmed.
The FCA and Financial Ombudsman Service are seeking to modernise the financial redress system to help prevent it becoming overwhelmed.
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.