Ombudsman seeing thousands of complaints related to job and investment scams

Worries about finances can make it easier for fraudsters to tempt people by promises of ‘easy money’, the Financial Ombudsman Service said.

Investment scams often involve victims paying escalating amounts of cash (Dominic Lipinski/PA) (PA)

People looking to make some cash through online opportunities are being warned by the financial ombudsman that it sees thousands of complaints about investment and job scams.

The Financial Ombudsman Service said its data shows that people lodged around 31,300 complaints about fraud and scams generally between January and December 2025.

Within this total, around 20,000 complaints were from people who had authorised a payment as part of a scam. This includes authorised push payment (APP) scams, where people transfer money directly from their bank account, as well as cases when someone inadvertently used their debit or credit card to pay a fraudster.

The ombudsman said more than half of the 20,000 authorised payment scam complaints related to online investment scams.

These often start with adverts on social media or search engines prompting “high-return” opportunities, frequently linked to cryptocurrency.

Scams often start with a small investment that appears to grow quickly. Victims are then encouraged to invest bigger sums, only to be told they must pay fees, taxes or charges before they can withdraw the money. In reality, the money is lost to the scammer.

The ombudsman said it has also received thousands of complaints about job scams – where fraudsters advertise flexible, high-paying work online.

People are typically asked to pay upfront fees, often in cryptocurrency, to unlock their wages, commission or earnings, which never materialise.

Patrick Hurley, ombudsman director at the Financial Ombudsman Service, said: “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.

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“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.

“Our service offers fair, free and final answers to your financial complaints. So, if you’re unhappy with how your financial provider has handled your issue, you can bring a complaint to us.”

Other fraud and scam cases making up the service’s caseload includes complaints from people disputing transactions they do not recognise, such as money withdrawn from or paid into their bank account.

Here are some suggestions from the Financial Ombudsman Service to avoid scams:

1. Listen to your bank.

If they warn you about a scam, answer their questions accurately. Not doing so hinders their ability to protect customers from financial harm. If your bank contacts you, ensure that you are speaking to them and not a scammer by calling them back, preferably on a different line, using the phone number on your card.

2. Verify the company.

Check the Financial Conduct Authority’s “firm checker” to confirm that a firm is authorised for the services being offered before investing or making payments.

3. Be cautious with social media adverts.

Scammers often use fake celebrity endorsements or promises of high returns to lure victims.

4. See if details seem genuine.

If someone contacts you claiming to represent a recruitment company, contact them using details listed on the genuine company’s website. Be aware that some companies are entirely fraudulent and may have fake websites. Try to find genuine evidence of the company’s existence outside of their website.

5. Ask yourself if it is too good to be true.

Be wary of anyone suggesting a reasonable salary can be earned by working for just a few hours, such as liking social media posts or promoting companies.