Complaints against banks and insurers climb: FIDReC

Singapore

THE number of complaints filed with Singapore-based Financial Industry Disputes Resolutions Centre (FIDReC) rose to 1,266 for the financial year ended June 30, 2018, up from 953 the year before.

Of these complaints, 33 per cent were filed against banks and finance companies, 47 per cent against life insurers and 14 per cent against general insurers, FIDReC stated in its annual report.