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Complaints against banks and insurers on the rise

Financial disputes centre sees 29% rise in complaints from 2015; banks, finance firms top the list with 38%

Published Mon, Nov 28, 2016 · 09:50 PM

Singapore

THE number of consumers who have grievances against financial institutions (FIs) in Singapore has grown, says data from the Financial Industry Disputes Resolution Centre Ltd (Fidrec).

Between July 2015 and June 2016, the centre handled 1,162 complaints, up 29 per cent year on year.

These complaints were directed at banks, finance companies, life and general insurers, capital markets services licensees, financial advisers and insurance brokers.

Leading the pack with the most number of compl…

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