The Financial Ombudsman Service has issued a stark warning to the public as job and investment scams surge across the UK. New data reveals that individuals lodged approximately 31,300 complaints about fraud and scams between January and December 2025, highlighting a growing threat to financial security.
Alarming Rise in Authorised Payment Scams
Within this total, around 20,000 complaints stemmed from people who authorised payments as part of scams. This includes authorised push payment (APP) scams, where victims transfer money directly from their bank accounts, as well as cases involving inadvertent debit or credit card payments to fraudsters.
More than half of these authorised payment scam complaints—over 10,000 cases—were linked to online investment scams. These often begin with enticing adverts on social media or search engines promoting high-return opportunities, frequently tied to cryptocurrency investments.
How Investment Scams Operate
Scammers typically lure victims with small initial investments that appear to grow rapidly, creating a false sense of trust. Victims are then encouraged to invest larger sums, only to be told they must pay additional fees, taxes, or charges before withdrawing their money. In reality, the funds are lost to the fraudsters, leaving victims financially devastated.
Job Scams: A Growing Concern
The ombudsman also reported thousands of complaints related to job scams, where fraudsters advertise flexible, high-paying work online. These scams often require victims to pay upfront fees, usually in cryptocurrency, to unlock promised wages, commissions, or earnings that never materialise.
Patrick Hurley, ombudsman director at the Financial Ombudsman Service, emphasised the risks: Financial concerns can make it easier for fraudsters to tempt people by promises of easy money with high-commission online jobs, or by investing in cryptocurrency. Be wary of these opportunities.
Key Advice from the Ombudsman
Hurley urged the public to exercise caution: If you’re ever asked to transfer money for an investment or a job opportunity, pause and do your research first. If it sounds too good to be true, it probably is a scam.
The Financial Ombudsman Service offers a recourse for victims, providing fair, free, and final resolutions to financial complaints. If individuals are dissatisfied with how their financial provider has handled an issue, they can bring a complaint to the service for assistance.
This warning comes amid increasing reports of sophisticated fraud tactics, underscoring the need for vigilance in an era of digital financial transactions. The ombudsman’s data serves as a critical reminder to verify opportunities thoroughly and avoid falling prey to deceptive schemes.
