Romance Fraud: Love at First Sight or a Costly Scam?

Romance fraud victims are not your stereotypical targets but rather individuals who experience a moment of vulnerability. Please be warned, that fraudsters exploit events such as Valentine’s Day to deceive people.

Valentine’s Day: A Prime Opportunity for Scammers

February 14th, 2025, brings a variety of events to celebrate – National Organ Donor Day, International Book Giving Day, National Black Literacy Day, and, for the romantics among us, Valentine’s Day. With love in the air and hearts wide open to affection, scammers seize the opportunity to work their fraudulent magic.

Phishing schemes related to romantic offers, gift deals, and special promotions are particularly common. Cybercriminals may lure individuals into clicking on fake discounts or fraudulent advertisements, leading to compromised personal data.

Most shocking are the criminals who use online dating platforms with fake profiles to target those who are looking for romance. 

The Shocking Statistics

City of London Police reported in 2024 that more than £94.7 million was lost to romance fraud in the last year, with 8,792 reports filed. Read the full report here.

A poll commissioned by UK Finance a few years ago* revealed that nearly 40% of people looking for love online were asked for money by criminals.  AJC consultant Katy Worobec, former Managing Director of Economic Crime at UK Finance, warns: “Criminals will spend time – sometimes months – grooming their targets online, but will eventually ask for money. It may only be a small amount at first, but if someone you have never met in person asks you to send them money, treat this as a red flag”. 

Love Turns into Financial Ruin

A recent highly documented case involved a person impersonating a well-known Hollywood actor, who successfully groomed a French interior designer to transfer £697,000 over the course of a year. The scam began back in February 2023 via Instagram and quickly progressed to private messages of poems and other romantic gestures, which melted Anne’s heart. The complimentary conversations eventually resulted in Anne transferring a payment of £7,566 to allow romantic gifts to pass through Customs, followed by another payment of £50,500 for treatment of a fake cancer diagnosis, plus many further payments, leaving her penniless and homeless. Read more here.

Becky Holmes’ Experience with Romance Scams

Becky Holmes, author of the book Keanu Reeves Is Not In Love With You?, succumbed to lockdown boredom, joined a social media platform, and was bombarded by many declarations of love from fellow platform users. Eventually, she began screenshotting the messages and publishing them to her followers. This naming and shaming led to an influx of followers but also messages from both men and women of a variety of ages who had been victims themselves or family members of a victim of Romance Fraud.

Becky’s book delves into the psychology of fraud, coercive control, the similarities between romance fraud and domestic abuse, plus the geography of where these scams originate. Becky speaks to a scammer, several victims, and she hopes that the book will show there is more to the Romance Fraud topic than most are led to believe, including how Romance Fraud isn’t always financial; it can revolve around the power and deceit of the scam.

Her enlightening and hilarious journey can be heard within episode 059 of The Security Circle podcast, hosted by Yolanda Hamblen, via most streaming platforms, and her book can be purchased here: Purchase Becky’s book here.

How to Stay Safe from Romance Fraud

As a kind reminder during this fun celebration, please ensure you know who you are sending your money to, be suspicious of requests from someone you haven’t met in person, talk to and get advice from your family and friends, and contact your bank straight away if you think you have been a victim of romance fraud. 

For more guidance, visit Take Five To Stop Fraud: Romance Scam Advice.

If you are using dating sites to meet someone, keep these precautions in mind:

• Be wary of profile pictures – AI can generate or alter images.
• Stay within the messaging function of the dating site until you are confident in the person’s identity.
• If you arrange to meet, ensure it is in a public place.

AJC: Protecting Against Cyber Fraud

With all aspects of fraud and cyber security, staying proactive is key. By adopting strong security practices, individuals can safeguard their personal information, and organisations can protect their operations.

For expert assistance in defending against cyber threats, AJC’s cyber security services provide tailored solutions to keep your business secure. From independent reviews of cyber safeguards to expert guidance on cybersecurity plans and policies, we offer cost-effective solutions tailored to your needs.

To find out more, please contact us on 020 7101 4861 or email us info@ajollyconsulting.co.uk.

References:
* Market Research company Savanta interviewed 2,310 UK adults in an online survey from 28 January to 30 January 2022.
Image accreditation: Zyanya Citlalli (June 2024) from Unsplash.com. Last accessed on 13th February 2025. Available at: https://unsplash.com/photos/a-couple-of-cell-phones-sitting-next-to-each-other-ODnCGyhx4Rg