AssetID: 54095188
Headline: UNCAPTIONED: Fraud and Scam Complaints Reach Highest Level in Six Years
Caption: Complaints about fraud and scams have surged to their highest level in six years with half involving bank transfers, according to the Financial Ombudsman Service (FOS). Between April and June, the FOS received 8,734 cases, marking a 43% rise compared to the same period in 2023. This is the highest number of complaints since the FOS began tracking this data in 2018. The rise is attributed to factors like the increase in investment scams on social media where fraudsters request payments via credit or debit card, and consumers making multiple claims as funds move through different banks. Additionally, more online fraud cases are being handled by companies managing claims for consumers. Pat Hurley, the FOS’s director for banking, noted that fraudsters are constantly adapting their methods, which is reflected in the rising complaints. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Fraud,scams,social media,credit cards,highest level,six,years,bank transfers,FOS,Financial Ombudsman Service,tracking,hackers,fraudsters,information,stolen,computers,online
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