FAIS puts back R39 Million in consumers' pockets.
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GUEST - Advocate John Simpson - Fais Ombud
Compensation of R39.13 million was paid to consumers due to complaints settled by the Office of the Ombud for Financial Services Providers (Fais) in its 2022/23 financial year.
A settlement was reached in 29% of the complaints referred to the office, according to the annual report released on Friday.
The office received 10 970 new complaints during the year, but only 59% or 6 483 of all complaints received fell within the mandate of the office.
Of these 6 483 complaints, almost 76% or 4 796 of all justiciable complaints received were resolved, while 2 783 were dismissed.
Compensation of R39.13 million was paid to consumers due to complaints settled by the Office of the Ombud for Financial Services Providers (Fais) in its 2022/23 financial year.
A settlement was reached in 29% of the complaints referred to the office, according to the annual report released on Friday.
The office received 10 970 new complaints during the year, but only 59% or 6 483 of all complaints received fell within the mandate of the office.
Of these 6 483 complaints, almost 76% or 4 796 of all justiciable complaints received were resolved, while 2 783 were dismissed.
