KUALA LUMPUR, Jan 23 — Since its establishment on January 17, 2025, the Financial Markets Ombudsman Service (FMOS) has received 3,253 complaints and resolved 2,268 disputes, according to the Ministry of Finance (MOF).

On the Parliament’s website yesterday, the MOF stated that for complaints related to health insurance products, FMOS had received 112 complaints (3.4 per cent of the total complaints received) as of the third quarter of 2025.

“Of this number, 83 complaints (74 per cent of total complaints related to health insurance products) have been resolved, resulting in estimated cost savings of about RM1.24 million, which might otherwise have been incurred if the cases had been brought to court,” said MOF.

The ministry was replying to William Leong Jee (PH-Selayang) regarding the total number of cases or complaints received by FMOS in 2025, the rate or percentage of complaints that were resolved, and the proportion of complaints specifically related to health insurance products.

FMOS serves as a dispute resolution centre for financial consumers and investors nationwide. It aims to enhance operational synergies among financial and investment dispute resolution schemes, while ensuring that the resolution process is fairer, simpler, more efficient and free of charge for financial consumers and investors.

Bank Negara Malaysia has stipulated that financial institutions must inform consumers of their right to lodge complaints through an alternative dispute resolution channel, namely FMOS, before taking legal action in court. — Bernama