Romance scam reports surge has hit a new high, with Lloyds Banking Group recording a 24% jump in reports from its customers over the 12 months to 31 August 2026, compared with the previous year. The figures reveal a picture that cuts across age groups, but with some clear and concerning patterns: younger adults are filing far more reports, while older victims continue to lose far more money.
Romance scams work by building a false emotional relationship online before the fraudster asks for money. Scammers typically use intense messages and declarations of love to create a sense of genuine connection, then manufacture a financial emergency or use emotional pressure to prompt a payment.
Romance scam reports surge hardest among younger adults
The sharpest increases in reports came from the youngest age groups. Among Lloyds customers aged 18 to 24, reports rose by 59% over the period. Those aged 25 to 34 saw a 39% increase. Taken together, Lloyds found that almost one in four victims, 24%, were aged between 18 and 34.
Liz Ziegler, fraud prevention director at Lloyds, said that younger adults being confident online does not protect them. ‘Many people assume younger adults are less likely to fall victim because they are confident online, but being digitally savvy does not make someone immune to fraud,’ she said. Dating apps and social media platforms were the most common places where younger victims reported meeting scammers.
For victims aged over 50, traditional dating websites and social media platforms were among the places where they had encountered criminals. Ziegler said romance scammers ‘look for opportunities to build trust, create an emotional connection, then turn that relationship into a request for money,’ adding that the bank speaks to customers every day who believed they had found a genuine relationship, only to discover the person was only interested in money.
Older victims still bear the heaviest financial losses
While younger people are filing more reports, the financial damage falls hardest on older victims. More than half (55%) of all money lost to romance scams in the period came from victims aged over 65. Victims aged 75 to 84 lost an average of £9,051 each, the highest average of any age group and 19% more than in the previous year.
Across all age groups, the average loss fell by 20% to reach £4,078, Lloyds said. That figure may reflect the growing number of younger victims, whose individual losses tend to be lower, pulling the overall average down.
The scale of the problem extends well beyond one bank’s customer base. According to Sumsub, UK Finance figures show that in the first half of 2025 alone, UK victims lost an estimated £20.5 million across nearly 3,000 cases. Sumsub also reports that TSB has recorded a sharp rise in romance scam activity, with money sent to fraudsters posing as romantic partners increasing 37% year-on-year when comparing 2024 and 2025 data, and case volumes rising 15%.
Patrick Hurley, ombudsman director at the Financial Ombudsman Service, said the impact on victims is often life-changing. ‘Romance scams particularly can leave an emotional scar and the impact on victims is often significant,’ he said. Hurley advised anyone unhappy with how their financial provider has handled a complaint to contact the FOS, which can investigate independently.
How to spot the warning signs
Ziegler offered several practical steps for anyone building new relationships online. She said red flags include profiles that appear newly created or contain limited information, changing circumstances, and inconsistencies that do not hold up. Performing a reverse image search on a profile photo can reveal whether it has been used elsewhere online.
Fraudsters frequently create urgency, emergencies or emotional ultimatums to push victims into making quick payments. Ziegler’s advice: ‘If someone you’ve recently met starts asking for money, take a step back and speak to someone you trust. A genuine relationship should never depend on money.’
Talking to a friend or family member about a new online relationship, particularly before sending any money, can provide an outside perspective that is harder to access when emotions are involved. Victims should also avoid sharing banking details, passwords, identity documents or intimate material with anyone they have not met in person and verified independently.
Lloyds plans to publish further data from its analysis at its news and insights page, where the full breakdown by age group is available.
