Romance scams loss termed to have reached £10k on an average in UK


A report compiled by Barclays states that the amount of money lost in romance scams has reached an average of £10k in the UK in the last 6-8 months. This amount is what fraudsters earn on average, and the actual number might be much higher than what is estimated now.

The survey also revealed that one in three Britons have experienced a scam or know at least one or two people who have gone through this negative experience in the past year or so. Scammers are constantly developing new tactics to deceive victims, and the credit goes to their innovation.

The cost of living crisis, recession fears, and other factors have made it easier for criminals to coax victims into paying them a significant amount. Surprisingly, the study conducted by Barclays found that most victims are aged between 51 to 69, and they have either sent money from their savings or were relying on credit for their living expenses.

A similar survey conducted by NordVPN showed that almost one in four adults in the United States have been targeted by romance scams, and among them, nearly 29% lost between $400 to $2000 due to these criminals.

Security experts suggest that poor grammar in conversations, an early and eager mentality, a profile that seems too good to be true, and excuses for not meeting in person can be signs that the person might be trying to scam you for money.

Romance scams occur when an individual befriends you, wins your affection and trust quickly, and then starts asking, begging, or threatening you for money. Divorcees, widows/ers, those over 50, and women are potential targets for these scammers.

To avoid falling prey to such scams, it is important to stay focused during conversations, not assume the person is safe, get a second opinion from friends, take your time, never reveal too much information on dating sites, never send money, and always meet in person.

Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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