Banking Sector Complaints Hit Highest Level in a Decade, Ombudsman Reports

More than 80,000 complaints were raised with the Financial Ombudsman Service over the past financial year, with a huge spike in online fraud scams. Banking sector complaints have reached their highest level in a decade, the Financial Ombudsman Service (FOS) announced on Friday. Customers raised 80,137 cases with the free resolution service about banking and payment products in the financial year 2023/2024, compared with 61,995 in 2022/2023. Current account concerns, credit card issues and worries about fraud were behind the increase, according to the FOS. Current accounts were the product...