Financial Ombudsman Service (FOS) – UK

The Financial Ombudsman Service (FOS) is a statutory body established under the Financial Services and Markets Act 2000 that resolves disputes between consumers and UK-authorised financial services firms. It is free for consumers to use and its decisions are binding on firms (though consumers can still take the matter to court if dissatisfied). The FOS has jurisdiction over banks, insurers, investment firms, and payment service providers.

In the context of scams and fraud, the FOS handles complaints where a consumer believes their bank has unfairly denied a fraud claim, applied incorrect terms to a claim, or failed to reimburse them under the APP fraud reimbursement rules. The FOS has published extensive guidance on the standards it expects banks to meet when assessing APP fraud claims, including how it considers 'gross negligence' defences and what warnings a bank should have given before processing a suspicious payment.

To use the FOS, you must first complain formally to your financial firm and allow it eight weeks to respond (or receive a final response earlier). If the outcome is unsatisfactory, you can refer the complaint to the FOS at financial-ombudsman.org.uk or by calling 0800 023 4567. You must refer within six months of the firm's final response letter. The FOS can award redress up to GBP 415,000 and can also require firms to take corrective action.