Romance fraud has increased during lockdown with the average victim losing £7,850.
According to UK Finance, a trade association, bank transfer romance fraud has increased 20 per cent between January and November 2020 – with a collective loss of over £18.5 million being reported.
Romance fraud is defined as any scam in which criminals gain the trust of their victims through romantic advances and trick them into believing that they are in a genuine relationship.
UK Finance report that the increase comes as more people take to online dating platforms during the pandemic – 2.3 million people joined them during the first lockdown.
Katy Worobec, Managing Director of Economic Crime at UK Finance, said, “Romance scams can leave customers out of love and out of pocket, but there are steps people can take to keep themselves or their family and friends safe – both on and offline.”
“People can help their loved ones spot the signs of a scam, particularly as romance scammers can be very convincing by forming an emotional attachment with their victims.”