Lloyds Reports 24% Surge in Romance Scams Targeting Younger Adults

Lloyds Banking Group has recorded a striking 24% increase in reports of romance scams over the past year, drawing attention to a troubling trend particularly affecting younger adults. Between September 1, 2025, and August 31, 2026, the bank analyzed scam reports from its customers and compared them to the previous year, revealing a sharp rise in incidents involving individuals aged 18 to 24, which surged by 59%. Those aged 25 to 34 also experienced a significant increase of 39% in reported scams.

Despite the rising numbers among younger victims, older individuals typically suffer greater financial losses. In fact, the most recent data shows that over half (55%) of the total money lost to romance scams came from victims aged over 65. Notably, victims aged 75 to 84 lost an average of £9,051, marking the highest average loss across all age groups and representing a 19% increase compared to the previous year.

The report highlights the platforms where these scams are most commonly initiated. Younger victims often encounter scammers on dating apps and social media, while older individuals typically meet fraudsters on traditional dating websites and social media platforms. Liz Ziegler, the fraud prevention director at Lloyds, emphasized that romance scammers exploit emotional connections to build trust before requesting money. "Romance scammers don't care how old someone is. They look for opportunities to build trust, create an emotional connection, then turn that relationship into a request for money," she stated.

Ziegler further explained the emotional toll these scams take on victims, noting that many individuals believe they have found genuine relationships, only to discover the truth behind the deception. "Victims can be left dealing not only with a financial loss, but also the distress of learning that the relationship and future they had imagined were never real," she added. The rising reports from younger adults indicate a pressing need for awareness about the warning signs of romance scams.

Challenging Assumptions About Online Safety

While many assume that younger adults, being more digitally savvy, are less likely to fall victim to such frauds, Ziegler cautioned that confidence online does not equate to immunity from scams. She advised individuals to be vigilant, particularly if someone they have recently met begins asking for money. Ziegler's recommendations for avoiding scams include being wary of intense messages and declarations of love that scammers often use to foster emotional connections, protecting personal and financial information, and recognizing red flags such as inconsistencies in a person's story.

Who Knew What

Patrick Hurley, ombudsman director at the Financial Ombudsman Service (FOS), echoed the sentiments regarding the distress caused by such scams. "Being the victim of a fraud or scam can be deeply distressing and sadly for many people the financial implications can be life-changing. Romance scams particularly can leave an emotional scar and the impact on victims is often significant," he remarked.

As the trend of romance scams continues to rise, both Lloyds and the FOS encourage consumers to report any suspicious activity and to seek help if they believe they have fallen victim to a scam. The emotional and financial ramifications of these scams underscore the importance of vigilance and awareness in navigating online relationships.