FOS has published data showing the number and outcome of the complaints it has handled about financial businesses for the period of January to June 2023.
The key take-aways are:
- FOS received a total of 93,114 complaints;
- 37% of complaints were upheld in favour of the consumer, a rise from 34% in the latter period of 2022;
- There has been a rise in cases in the banking and insurance sectors, which FOS puts down to the rise of building and motor insurers delaying in paying out on claims while contractor availability impacts the speed of repairs;
- Banking and credit claims have also substantially risen with around half of the increase being made up of fraud and scam cases.