Britain’s complaints handling service is battling to deal with a surge in complaints about fraud and scams, as the full extent of the financial crime wave is laid bare.
The Financial Ombudsman Service (FOS) – which arbitrates in disputes between City firms and consumers – has received received a fifth more complaints in this area during the current financial year than last year.
Responding to a letter from the Treasury committee, chief executive Caroline Wayman said the FOS has received 10,000 new cases so far in 2018-19, up from 8,500 over the entire 2017-18 financial year.
The figures include chip and PIN complaints, cash not received from ATMs, identity theft and online transfers. One in…