Romance Scammers: A Growing Financial Crime
Love and friendship is big business for fraudsters, with unsuspecting Brits losing over £100 million last year.
A review by the regulator has revealed the depth of the problem, with romance fraud cases rising by 9% last year, according to the Financial Conduct Authority (FCA).
People searching for love in the UK lost £106 million to romance fraudsters last year, with scammers targeting Brits over various schemes, including fine wine and Winter Fuel Payments.
The FCA has set out guidelines for banks and individuals to stop these sweet-talking scammers, who have also been known to pretend to be the regulator.
- £106 million lost to romance fraudsters last year
- 9% rise in romance fraud cases
- Scammers target various schemes, including fine wine and Winter Fuel Payments
Love and friendship is big business for fraudsters who tricked unsuspecting Brits out of more than £100 million last year.
Author's summary: Romance scammers stole £428k from a lonely Brit, highlighting the growing problem of financial crime.
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