Horror stories about alleged Youi scams and frauds have flooded in after Fairfax revealed allegations of wide scale illegal conduct at the major insurer.

Since the story was published on Sunday, August 28, Fairfax has been contacted by more than 140 Youi customers claiming the company took their money without authorisation, or signed them up for fraudulent policies.

Many people only discovered the alleged frauds when they checked their bank accounts and insurance policies after reading of Fairfax's investigation.

The company meanwhile maintains the allegations are wrong. On Sunday night it released a statement rejecting the assertions.