The romance scam signs to look out for as over-55s frequently targeted for their money
The common excuses used by scammers for urgent cash revealed
- Lloyds Banking Group reported a 52 per cent increase in romance scams targeting victims over 55 in the past year.
- Individuals aged 55 to 64 are the most frequently targeted group, while those aged 75 to 84 suffer the highest average financial losses, at £8,068.
- Scammers often claim occupations such as military personnel, doctors, or engineers, and use excuses to solicit money like medical emergencies, travel and living expenses or needing money to pay legal fees.
- Victims are typically asked to send funds via bank transfer or by purchasing online gift cards, which are easily converted to cash by fraudsters.
- Experts advise caution against quick declarations of love, requests for money, and isolation tactics, urging people to discuss concerns with friends or family.