The Financial Ombudsman Service (FOS) has published its annual complaints data (FY 2022-23), showing a small year-on-year increase in number of complaints handled.
Complaints relating to fraud and scams have increased by almost a fifth (to 21,000 complaints), driving the slight annual growth. The Ombudsman also saw an increase in complaints about charges, fees and commission in car finance products.
Hire Purchase (motor) has risen to become the 4th-most complained about product and has seen volume of complaints rise in each of the last six quarters. Within this rise, more consumers have complained about undisclosed commission when taking out a hire purchase agreement.
The full data is available on the FOS website.
