Romance Scammers: A Growing Financial Crime
Love and friendship is a lucrative target for fraudsters, with unsuspecting Brits losing over £100 million to romance scams last year.
A review by the Financial Conduct Authority (FCA) has revealed the depth of the problem, with cases rising by 9% last year.
One notable case involved a lonely Brit who was scammed out of £428k.
People searching for love in the UK lost £106 million to romance fraudsters last year.
- Scammers target Brits over various topics, including fine wine and Winter Fuel Payments.
- They have also been known to pretend to be the regulator.
The FCA has set out guidelines for banks and individuals to stop these sweet-talking scammers.
Author's summary: Romance scammers are a growing threat.
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