Romance scams on the rise with huge surge in Gen Z victims as age warning issued

Romance scams on the rise with huge surge in Gen Z victims as age warning issued A UK bank report that romance scams are up by nearly a quarter year-on-year, with younger victims typically meeting fraudsters on dating apps and social media now a big target A huge jump in reports of romance scams over the past year has seen a surge in swindlers successfully targeting more and more Gen Z victims. The frauds reported by Lloyds Banking Group saw a 24% hike when customers between September 1 2025 and August 31 2026 were compared with those in the previous 12 months. While there was a particularly large increase in reports among younger adults, older victims typically lost more money. Reports involving victims aged 18 to 24 surged by 59% over the period, while those involving victims aged 25 to 34 also increased particularly sharply, by 39%. In the most recent 12-month period analysed by Lloyds, more than half (55%) of money lost to romance scams came from victims aged over 65. Victims aged 75 to 84 lost an average of £9,051, the highest average of any age group, and 19% more than the previous year. The average loss across romance scam victims generally fell by 20% to reach £4,078, Lloyds said. Dating apps and social media platforms were common places for younger victims to have met scammers, while, among over-50s, traditional dating websites and social media platforms were among the places they had encountered criminals. Liz Ziegler, fraud prevention director at Lloyds, said “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. “We speak to customers every day who believed they had found a genuine relationship, only to discover that the person they trusted was only interested in money. “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. The rise in reports from younger adults shows anyone building friendships or relationships needs to recognise the warning signs. “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. “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.” Patrick Hurley, ombudsman director at the Financial Ombudsman Service (FOS), said: “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. If consumers are unhappy with their financial provider, they should first raise a complaint with the business. “If they don’t believe that has resolved the issue, they can get in touch with us and we’ll see if we can help.” Top tips to avoid a scam - Romance scammers often use intense messages and declarations of love to create a strong emotional connection before asking for money. - Protect personal and financial information. Do not share banking details, passwords, copies of identity documents or intimate material. - Look out for red flags. Be cautious of changing circumstances, inconsistencies and excuses that do not stand up to scrutiny. Be cautious if their online profile seems newly created, contains limited information, or appears too good to be true. - A reverse image search can show whether a photo appears elsewhere online or is being used on another person’s profile. - Step back from feelings of urgency or guilt. Fraudsters often create pressure, emergencies or emotional ultimatums to encourage quick payments. - Talk to someone you trust. Tell a friend or family member about the relationship, particularly before sending money. An outside perspective can help identify pressure or inconsistencies that are harder to recognise when emotions are involved.