Scam complaints rise 66% amid cryptocurrency fraud - FOS

Quarterly FOS figures

clock • 1 min read
Scam complaints rise by 66% amid new cryptocurrency fraud
Image:

Scam complaints rise by 66% amid new cryptocurrency fraud

The number of people affected by fraud and scams rose by 66% in the first quarter of the 2021/22 financial year, with 5,025 cases compared with 3,028 in the same period the previous year, according to statistics from the Financial Ombudsman Service (FOS).

The latest Financial Ombudsman Service report highlighted that 60% of fraud and scam complaints were upheld by the organisation over that period, rising from 50% seen in the previous year. Fraud and...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Tap into our community intellignece through our regular Pro Adviser poll.
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login