Warning as scam complaints hit six-year high

Some victims have inadvertently paid fraudsters via debit and credit cards after spotting supposed investment opportunities on social media, the ombudsman said.

Other factors leading to the rise in cases include multiple claims when various banks are involved in the process. Professional claims management companies have also brought an increasing number of cases.

Some 44% of complaints about scams and fraud were upheld in consumers’ favour by the ombudsman, compared with 37% for other types of gripes.

Abby Thomas, chief executive and chief ombudsman of the FOS, said: “Being a victim of a fraud and scam is a horrendous experience – not just financially, but emotionally too. That’s why it’s disappointing to see complaint levels rising to even higher levels.

“We often hear from people embarrassed to have fallen victim to a fraud, but these crimes can be complex and incredibly convincing, and nobody should be afraid to come forward.”