Money lost to romance scams has risen sharply over the past year, with the value of payments sent to fraudsters increasing by 37%, according to new analysis from TSB.
The bank’s latest research also shows a 15% rise in the number of cases, underlining how this form of fraud continues to escalate in both scale and severity.
Romance fraud remains one of the most emotionally and financially damaging types of crime facing consumers. Industry figures from UK Finance highlight the wider context, showing that £20.5m was lost to romance scams in the first six months of 2025 alone, across almost 3,000 reported cases. These scams often unfold slowly, with fraudsters investing significant time in building trust before attempting to extract money.
TSB’s data shows that once a victim makes an initial payment, the financial losses can quickly multiply. On average, victims send 11 payments per case, losing £7,500 before the scam is uncovered. The typical relationship between victim and fraudster lasts 95 days from the first to the last payment, though TSB cited one extreme case in which almost 50 payments were made over a 42-month period, despite ongoing education and security interventions.
Fraudsters rely on persuasive narratives to keep victims emotionally engaged and compliant. In 43% of cases, scammers claimed they were living abroad, while 29% involved celebrity impersonation. Other common cover stories included serving in the army (18%) or working on an oil rig (10%).
Financial pressure is a frequent tactic, with 48% of fraudsters claiming personal money difficulties and 37% asking for travel funds, often promising a meeting that never materialises. False claims for medical fees accounted for 9% of requests, while 4% involved blackmail.
Older customers are disproportionately affected. People aged over 55 made up 58% of all cases, with those aged 65–74 representing the single largest group at 23%. Customers aged 55–64 accounted for 19%, while both over-75s and 25–34 year olds represented 16% each.
Social media continues to play a central role in how these scams begin. More than half (58%) of cases originated on social platforms, with contact starting on Facebook accounting for 30% of TSB’s total cases. Dating apps were also a major channel, responsible for 42% of cases across all online dating services.
Richard Daniels, Director of Fraud, TSB, said:
“Romance scams are some of the most emotional situations that we support customers through – due to both the devastating personal and financial impact on individuals.
“While online dating is an increasingly popular way of meeting people, it’s vital that we all remain guarded – especially now with the use of AI – until we can be sure it’s a real person we are speaking to. And if the conversation turns to money, it’s time to stop.”
TSB said it continues to prevent a high level of potential losses by identifying suspected fraudulent accounts early and intervening with customers before payments are made, but warned that awareness and caution remain critical as scammers refine their techniques.
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