Financial Ombudsman Releases Complaints Data

FOS release complaints data

In May 2013 FOS released its annual review of 2012/13. During the year, the FOS received a total of 2,161,439 new complaints and enquiries, resulting in 508,881 complaints, a 92% increase on the previous year. 62% of the total number of cases came from four banking groups (out of more than 100,000 businesses covered by the Ombudsman). Complaints about PPI (378,699 cases) made up 74% of the total complaints received by the Ombudsman. Complaints about investments and pensions (19,834 cases) made up only 4% of total complaints, but this represented an increase of 33% on the previous year, contradicting a previous downward trend.

This article is produced courtesy of Law firm DWF Fishburns LLP.