A UK bank has recorded a 24 per cent increase in romance scam reports over the past year.
Comparing cases from 1 September 2025 to 31 August 2026 with the previous 12 months, Lloyds Banking Group found that while younger adults saw the largest rise in reported incidents, older victims lost greater sums.
Reports from victims aged 18 to 24 surged by 59 per cent, with cases involving those aged 25 to 34 rising by 39 per cent.
More than half (55 per cent) of all money lost during the period was taken from victims aged over 65.
Those aged 75 to 84 suffered the highest average loss at £9,051, up 19 per cent from the previous year.
Across all age groups, the average loss fell by 20 per cent to £4,078.
Younger victims typically met fraudsters on dating apps and social media, whereas over-50s were commonly targeted via traditional dating websites and social platforms.
Liz Ziegler, fraud prevention director at Lloyds, said “Romance scammers don’t care how old someone is. They look for opportunities to build trust, create an emotional connection, then turn that relationship into a request for money.
“We speak to customers every day who believed they had found a genuine relationship, only to discover that the person they trusted was only interested in money.
“Victims can be left dealing not only with a financial loss, but also the distress of learning that the relationship and future they had imagined were never real.
“The rise in reports from younger adults shows anyone building friendships or relationships needs to recognise the warning signs.
“Many people assume younger adults are less likely to fall victim because they are confident online, but being digitally savvy does not make someone immune to fraud.
“If someone you’ve recently met starts asking for money, take a step back and speak to someone you trust. A genuine relationship should never depend on money.”
Patrick Hurley, ombudsman director at the Financial Ombudsman Service (FOS), said: “Being the victim of a fraud or scam can be deeply distressing and sadly for many people the financial implications can be life-changing.
“Romance scams particularly can leave an emotional scar and the impact on victims is often significant.
“If consumers are unhappy with their financial provider, they should first raise a complaint with the business.
“If they don’t believe that has resolved the issue, they can get in touch with us and we’ll see if we can help.”
Liz Ziegler’s tips to help people avoid scams
- Romance scammers often use intense messages and declarations of love to create a strong emotional connection before asking for money.
- Protect personal and financial information. Do not share banking details, passwords, copies of identity documents or intimate material.
- Look out for red flags. Be cautious of changing circumstances, inconsistencies and excuses that do not stand up to scrutiny. Be cautious if their online profile seems newly created, contains limited information, or appears too good to be true.
- A reverse image search can show whether a photo appears elsewhere online or is being used on another person’s profile.
- Step back from feelings of urgency or guilt. Fraudsters often create pressure, emergencies or emotional ultimatums to encourage quick payments.
- Talk to someone you trust. Tell a friend or family member about the relationship, particularly before sending money. An outside perspective can help identify pressure or inconsistencies that are harder to recognise when emotions are involved.
