On 7 September 2022, the Financial Ombudsman Service (FOS) published their quarterly complaints data for Q1 2022/23.
Between April and June 2022, the FOS received 65,740 new enquiries and 35,029 new complaints about financial products. On average the FOS upheld 34% of these complaints. The most complained about account was current accounts, followed by credit cards. Analysis of around a fifth of the investment fraud complaints received in the first quarter of this financial year shows that over half of the investment fraud complaints involved cryptocurrencies. Furthermore, the FOS has found that investment scams have seen the biggest increase as a proportion of “authorised” scam complaints, despite the number of “authorised” scam complaints decreasing overall.