The financial services ombudsman recorded a significant increase in complaints about fraudulent internet transactions in 2022, despite measures taken to curb phishing, the Ombudsfin reported on Thursday.
Last year, 967 fraud cases were dealt with, compared to 658 in 2021. Consumers submitted 2,142 admissible complaints in 2022, up 11.3% from the previous year. Internet fraud accounted for 45% of these admissible cases.
Complaints relating to the termination of the banking relationship also grew by 10%, to 226 admissible grievances. More than 5,500 complaints were, however, deemed inadmissible, 615 more than in 2021.
Ombudsfin takes into account, among other things, whether or not the fraud was detectable and whether the consumer was grossly negligent.
Businesses, on the other hand, submitted 42 admissible complaints in 2022 (out of 651 cases submitted), down 47.5% from the previous year. This is a “historically low” level, according to the Ombudsfin.
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The mediation service intervenes in the event of a dispute between a financial institution and a consumer. The dispute must first be submitted to the financial institution’s complaints department, which then has the opportunity to propose a solution itself. If this approach is unsuccessful, then the Ombudsfin can take the case.
