Financial Ombudsman Service chair Baroness Manzoor today announced she would be stepping down in August - just days after FOS CEO Abby Thomas quit the organisation.

Abby Thomas, CEO and Chief Ombudsman at the Financial Ombudsman Service, has exited the organisation this week in a shock departure.

The Financial Ombudsman Service (FOS) is expecting to deal with 4,000 more fraud and scam cases in the banking and loan sector over the next 12 months - a rise of over 12%.