Financial Fraud Reports Double In Past Year, Study Shows

By Irene Madongo (November 11, 2021, 3:24 PM GMT) -- The number of fraud complaints reported to the ombudsman has more than doubled in a year, with most involving consumers being conned into authorizing bogus payments, a consumer campaign group said on Thursday.

Complaints about fraud to the Financial Ombudsman Service shot up to 7,700 in the year ending March 31, up from 3,600 in the same period to March 2020, Which? said. Three out of four complaints were resolved in favor of the customer, the campaign group added in a report.

The report highlights how individual companies have been dealing with bank transfer and card scams, in which clients have been...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!