Lloyds Bank has issued an alert after a surge in “cruel” romance scams, costing victims thousands of pounds per case. People aged 55 and over face the largest threat, with scams of this nature targeting this group soaring by 52% in the past year.
Cases involving victims aged 35 to 44 jumped by 20%. Meanwhile, victims aged 75 to 84 lost the most on average at £8,068 – a 15% rise compared to the previous year. The average loss across all age groups was £5,219. Liz Ziegler, fraud prevention director at Lloyds, said: “Our specialist fraud prevention teams work hard to protect and safeguard customers from fraud, and romance scams are some of the cruellest cases they deal with. Taking advantage of people who are looking for love and companionship, fraudsters play with victims’ emotions when they could be at their most vulnerable.”
Romance scams involve fraudsters taking advantage of those using the internet to find companionship. They often use fake information and photos to gain the trust of potential victims, whether through social media, online forums, online gaming websites, and dating sites.
Once they have this trust, they will concoct various stories and excuses to explain why they cannot meet in person and why the victim should send them money.
Lloyds analysed reports from customers who had fallen victim to a romance scam and found the most common occupations claimed by fraudsters include military personnel, oil rig workers, business owners, and doctors working abroad in conflict zones.
The most common reasons for needing money are medical emergencies, flights, legal fees, and business problems.
Scammers often ask victims to send money via bank transfer, but other tactics include asking the victim to purchase online gift cards and send them instead. These are easy for the scammer to sell and profit from.
While scammers can be convincing, Ms Ziegler noted that it’s “easy” to spot some of their most obvious mistakes.
According to Lloyds, some tell-tale signs include:
- Rapid declaration of love: Scammers often profess love very quickly. Be cautious of strangers contacting you on social media and ask yourself if their intentions are genuine.
- Avoiding face-to-face meetings: They make excuses to avoid video calls or in-person meetings. Be wary of someone who has endless excuses for why they can’t meet in person.
- Requests for money: They ask for money for various emergencies or expenses. Never transfer money to a stranger, especially one you’ve never met in real life.
- Inconsistent stories: Their stories often have inconsistencies or change over time. If you’re suspicious of someone you’re talking to online, no matter how personal it may feel, speak to someone you trust in your day-to-day life to get an outside point of view.
- Pressure and guilt: They use emotional manipulation, such as guilt-tripping or creating a sense of urgency.
Ms Ziegler continued: “Always take a step back and ask yourself if what they are telling you sounds believable.
“Never in any circumstances, send money to someone you’ve met online. No good relationship starts off in this way, and there aren’t many valid reasons in 2025 why someone can’t speak to you on the phone.”
She added, “If you have an older person in your life who is active online, make sure to educate them as best you can on the risks and signs of potential fraudsters looking to take advantage of them.”
