FOS receives over 4,800 new cases from businesses

The FOS has received more than 4,800 new cases from small businesses this financial year.

The most recent data covers the period from April – November 2024, and demonstrates that fraud and scams remain the most common issue raised, with over 1,000 complaints received in this category so far this year. This reflects a significant rise from the approximately 600 fraud-related complaints received over the same period last year. Just under half of these latest fraud and scam complaints were in relation to APP scams.

Beyond fraud, the FOS has received over 900 complaints from businesses about their financial provider’s administration and customer service, including delayed letters and poor service-impact operations. There were also firms unhappy that their insurer had declined their commercial motor and property insurance claims.