There has been a nine per cent increase in complaints made about financial scams over the past financial year, according to an Australian Financial Complaints ombudsman.

Australian Financial Complaints Authority deputy chief ombudsman Dr June Smith told 6PR Mornings host Gary Adshead the authority had received an average 913 scam complaints a month in the 2023/24 financial year.

“It’s disappointing that once again in 2023/24 we have had a further nine per cent increase to over 105,000 complaints at AFCA – these are record numbers and they’re still too high,” Dr Smith said.

Click PLAY to hear why financial scam complaints are on the rise.

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