Rise in complaints about banks to Ombudsman

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 12 December 2020

⏱️ 31 minutes

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Summary

Exclusive figures from the Financial Ombudsman Service show a big increase in the number of complaints about banks in relation to fraud and scams. The stats show the FOS upholds 32% of complaints on average – but when it comes to fraud and scam cases that number nearly doubles to 58%. What does the FOS think about recent reports in the press that suggests banks are trying to get out of their voluntary code to refund victims of fraud? We hear from one case study who had £13,200 stolen 18 months ago and was refused a refund, until Money Box got involved. Paul talks to Debbie Enever from the Financial Ombudsman Service

In an exclusive interview Paul speaks to Alex Marsh, the UK boss of the biggest player in the Buy Now Pay Later market. The FCA is currently working on its review into BNPL as the industry braces itself for the prospect of regulation

More listeners have been contacting Money Box to tell us they are being pursued for debts of over £1000 by the Department for Work and Pensions. It is trying to recover a payment they have never had from a benefit they are not claiming. We hear from some of those affected.

Five major house builders are changing the way they sell new leasehold flats. Sebastian Kelly from the Leasehold Knowledge Partnership explains all.

Producers: Ben Carter and Darin Graham Reporter: Dan Whitworth Editor: Emma Rippon

Transcript

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0:41.2	BBC Sounds, music, radio, podcasts.
0:43.8	Hello, welcome to this Moneybox podcast.
0:49.6	Hello, coming up, an exclusive interview with the UK boss of the Buy Now Pay Later giant Clana.
0:50.9	More listeners have been in touch after the Department for Work and Pensions has been taking money from their wages to pay debts they do not owe.
0:59.0	And some major builders have said they'll scrap ground rents and offer longer leases on their new-billed flats in England.
1:06.1	But first, Moneybox has learned there's been a sharp increase in the number of complaints about the way banks are dealing with victims who have money stolen from their bank account.
1:16.2	Data from the Financial Ombudsman Service, or FOS, seen exclusively by this program, shows a rise of more than a third from the middle of 2019 to the middle of this year.
1:27.1	Moneybox reporter Dan Whitworth has been
1:29.0	looking at those numbers, Dan. Well, Paul, during April to September in 2019, there were 4,840
1:36.3	complaints made to FOS by victims of fraud and scams about how their banks dealt with them. This
1:42.4	year, that figure was 6,603.
1:45.7	That's a jump of 36%.
1:47.5	But, Dan, as we've reported several times,
1:50.1	the banks have signed up to a voluntary code
1:52.7	to refund victims from one major type of fraud,
	...

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