Warning over 'dramatic' spike in UK scams amid crypto fraud

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Warning over 'dramatic' spike in UK scams amid crypto fraud

The UK's Financial Ombudsman Service saw a dramatic 66% rise in fraud and scams complaints in the first quarter of the 2021/22 financial year, from 5,025 cases to 3,028 year-on-year. Over that period, 60% of fraud and scam complaints were upheld by the ombudsman, compared with 50% the previous year, it revealed in a statement on 24 September. It highlighted that banks and other financial institutions "still need to do more to resolve complaints from their customers fairly before people ...