Romance scam reports up 24%, Lloyds says

Lloyds Banking Group has seen a 24% rise in reports of romance scams over the past year, comparing data from September 1 2025 to August 31 2026 with the preceding 12 months. The bank noted a significant increase in reports from younger adults, although older victims typically incurred greater financial losses.

Younger victims targeted

Reports involving individuals aged 18 to 24 increased by 59% during the analysed period. A further 39% rise was observed among those aged 25 to 34. Despite this surge in younger victims, more than half of the total money lost to romance scams in the latest 12-month period came from individuals over 65. Those aged 75 to 84 reported the highest average loss, amounting to £9,051, a 19% increase from the previous year.

The average financial loss across all romance scam victims decreased by 20% to £4,078, according to Lloyds. Younger victims commonly met scammers on dating apps and social media platforms. For those over 50, traditional dating websites and social media also served as common meeting points.

Scammer tactics and advice

Liz Ziegler, fraud prevention director at Lloyds, stated that romance scammers target individuals regardless of age, focusing on building trust and emotional connections before requesting money. She highlighted that victims can suffer both financial loss and emotional distress, with the imagined relationship proving to be false. Ms Ziegler urged anyone building new relationships to recognise warning signs, noting that digital savviness does not prevent someone from becoming a victim.

Ms Ziegler advised potential victims to protect personal and financial information, be cautious of inconsistencies and red flags, and use reverse image searches for online profiles. She also stressed the importance of stepping back from feelings of urgency or guilt often created by fraudsters and discussing relationships with trusted friends or family before sending money.

Support for victims

Patrick Hurley, ombudsman director at the Financial Ombudsman Service, acknowledged the distress and life-changing financial implications of fraud and scams, particularly romance scams which can leave emotional scars. He advised consumers to first raise complaints with their financial provider and, if unsatisfied, to contact the Financial Ombudsman Service for assistance.