Central Bank Reports 62% Increase in Consumer Complaints in 2024 - BusinessWorld Online

Central bank reports 62% increase in consumer complaints in 2024 - BusinessWorld Online

THE BANGKO SENTRAL ng Pilipinas (BSP) processed 62.4% more financial consumer complaints in 2024 compared to the previous year. “Our office receives different kinds of consumer complaints and as of 2024, that’s our latest available data, we received around 70,000 complaints. But out of those 70,000 complaints, we only have around 30% which are on unauthorized transactions,” BSP Consumer Complaints Resolution Office Director Janice G. Ayson-Zales…

BSP consumer complaints jump 62% in 2024; mediation success rate improves

Consumer complaints filed with the Bangko Sentral ng Pilipinas (BSP) surged by 62.3 percent in 2024 to around 70,000 cases, according to officials of the central bank.Of the total number of consumer complaints, 13 percent were categorized as unauthorized transactions, Charina B. De Vera-Yap, managing director of the BSP’s financial inclusion and consumer empowerment sub-sector, said during a press briefing on the Anti-Financial Account Scamming …