8,734 fraud and scam complaints to Financial Ombudsman Service in Q2 2024, a 43% increase YoY; 50% APP scams.

The Financial Ombudsman Service reported a record 8,734 fraud and scam complaints from April to June 2024, marking the highest total since 2018. Over half of these complaints involved authorised push payment (APP) scams, where victims unknowingly transfer money to fraudsters. This represents a 43% increase from the previous year. Experts warn that individuals may be more susceptible to scams as they manage post-summer activities, highlighting the importance of vigilance.

September 03, 2024
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