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Sharp increase in scams ‘worrying’: Banking Ombudsman

Banks need to urgently implement key ‘confirmation of payee’ technology, Ombudsman says.

There had been an increase in sophisticated unauthorised payment scam cases.

Maria Slade Tue, 19 Sep 2023

Scams such as investment and phishing cons are increasing at a worrying rate, the Banking Ombudsman says.

Complaints about scams rose 43% in the past year, according to the Banking Ombudsman Scheme’s annual report.

Nearly a third of all complaints it formally investigated were about scams, and the

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Sharp increase in scams ‘worrying’: Banking Ombudsman
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