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 people searching for love in the UK losing £106 million to romance fraudsters.
- Scammers target Brits over various topics, including fine wine and Winter Fuel Payments.
- Romance fraud is a growing financial crime, with cases rising by 9% last year, according to the Financial Conduct Authority (FCA).
The FCA sets out how banks and individuals should act to stop sweet-talking scammers.
Love and friendship is big business for fraudsters who tricked unsuspecting Brits out of more than £100 million last year.
A notable case involved a lonely Brit who lost £428k to romance scammers.
Author's summary: Romance scammers stole over £100 million from Brits last year.
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