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UK Fraud Complaints Surge Over 40%

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UK Fraud Complaints Surge Over 40%

UK consumers’ complaints over banking fraud have surged by over 40% to hit an all-time high in the 2018-19 financial year, driven by online scams, according to official figures.

The Financial Ombudsman Service (FOS), which settles disputes between customers and their banks, said it received 12,195 complaints over the period, a 43% increase on the 6952 in the previous 12 months.

“One of the fastest-growing types of fraud is authorized push payment (APP) fraud — where people unwittingly act on fraudsters’ instructions and carry out the transactions themselves,” the FOS said.

“We’ve been taking ...

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