Romance Scammers: A Growing Financial Crime
Love and friendship have become a lucrative business for fraudsters, with unsuspecting Brits losing over £100 million last year.
A review by the Financial Conduct Authority (FCA) has revealed the extent of the problem, with romance fraud cases rising by 9% last year.
People searching for love in the UK lost £106 million to romance fraudsters last year.
Scammers often target Brits over various topics, including fine wine, Winter Fuel Payments, and motor finance compensation, and have even pretended to be the regulator.
The FCA is now outlining steps for banks and individuals to take to prevent these sweet-talking scammers.
A notable case involved a lonely Brit being stolen from, with £428k lost to romance scammers.
Author's summary: Romance scammers steal millions from Brits.