As of 2023, fraud was the most common reason why money service complaints were reported to the Consumer Financial Protection Bureau (CFPB) in the United States, along with managing, opening or closing a mobile money account. These types of issues amounted to 39 percent of all complaints, each. Other transaction problem followed, accounting for 16 percent of the money service complaints received by the CFPB in 2023.
Distribution of money services complaints reported to Consumer Financial Protection Bureau in the United States in 2023
Based on approximately 13,700 complaints received by CFPB
Supplementary notes
The source adds the following information: "When submitting money services complaints, consumers specify the type of product. Options include: check cashing service; debt settlement; domestic (U.S.) money transfer; foreign currency exchange; international money transfer; mobile or digital wallet; money order; refund anticipation check; traveler's check or cashier's check; and, virtual currency"
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Consumer Financial Protection Bureau. (March 27, 2024). Distribution of money services complaints reported to Consumer Financial Protection Bureau in the United States in 2023 [Graph]. In Statista. Retrieved October 31, 2024, from https://www.statista.com/statistics/287295/cfpb-money-transfer-complaints-by-type/
Consumer Financial Protection Bureau. "Distribution of money services complaints reported to Consumer Financial Protection Bureau in the United States in 2023." Chart. March 27, 2024. Statista. Accessed October 31, 2024. https://www.statista.com/statistics/287295/cfpb-money-transfer-complaints-by-type/
Consumer Financial Protection Bureau. (2024). Distribution of money services complaints reported to Consumer Financial Protection Bureau in the United States in 2023. Statista. Statista Inc.. Accessed: October 31, 2024. https://www.statista.com/statistics/287295/cfpb-money-transfer-complaints-by-type/
Consumer Financial Protection Bureau. "Distribution of Money Services Complaints Reported to Consumer Financial Protection Bureau in The United States in 2023." Statista, Statista Inc., 27 Mar 2024, https://www.statista.com/statistics/287295/cfpb-money-transfer-complaints-by-type/
Consumer Financial Protection Bureau, Distribution of money services complaints reported to Consumer Financial Protection Bureau in the United States in 2023 Statista, https://www.statista.com/statistics/287295/cfpb-money-transfer-complaints-by-type/ (last visited October 31, 2024)
Distribution of money services complaints reported to Consumer Financial Protection Bureau in the United States in 2023 [Graph], Consumer Financial Protection Bureau, March 27, 2024. [Online]. Available: https://www.statista.com/statistics/287295/cfpb-money-transfer-complaints-by-type/
