The Financial Ombudsman Service is predicting that more than 37,000 fraud and scams complaints will be submitted during next year, including cases involving authorised push payment (APP) scams, cryptocurrency fraud and ‘safe account’ scams. This is an increase on the 33,000 fraud and scams cases the service expects to have received by the end of this financial year.

Other banking issues the service is likely to see include problems with savings accounts, short term lending and mortgages. Abby Thomas, chief executive and chief ombudsman said: “It’s concerning to see high levels of fraud and scams cases continue to come to our service. People can feel embarrassed to have fallen victim to a fraud or scam, but these crimes can be complex and incredibly convincing, and nobody should be afraid to come forward.

“No matter how difficult a case may be, people can come with confidence to our free, independent service and we’ll investigate their complaint.”

In its recently published consultation on its 2025/26 plans and budget, the Ombudsman has projected likely caseload levels of around 240,000 new complaints. It has also launched a joint ‘call for input’ with the FCA to examine ways of modernising the redress framework to ensure it is fit for the future in taking steps to minimise spikes in complaints and subsequently make such cases easier for firms to manage.

Thomas added: “We are transforming our service to meet the needs of consumers and businesses. Thanks to our digital transformation and improved performance, caseworkers are now resolving 18% more customer complaints per head than last year, without compromising on quality.

“I also want to seize this opportunity to modernise the redress framework and ensure our service remains vital and relevant not only for today, but also continues to underpin confidence in financial services for the next generation of consumers and businesses.”

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