Romance fraud is one of the fastest‑growing types of financial crime in the UK. It’s emotionally devastating and financially damaging, with losses exceeding £100 million last year. These scams often strike when people are most vulnerable, using emotional manipulation to exploit trust.
At Quilter, we’re committed to helping you stay safe from scams, especially those that target personal relationships and financial security.
Romance fraud happens when someone is deceived into sending money to a fraudster who has built a fake romantic relationship with them. These scams usually begin online, often on social media or dating platforms. Fraudsters may use a false identity, share convincing stories, and gradually gain trust before asking for money, cryptocurrency or gift vouchers.
The emotional impact can be as severe as the financial loss.
Fraudsters are highly skilled at building trust and creating believable narratives. Victims can feel emotionally invested and reluctant to believe they’re being deceived. Nearly half of victims don’t disclose the real reason for their payments when asked by their bank, which can make early intervention challenging, even for firms with strong fraud detection systems.
Requests for money: If someone you’ve only met online asks for money or suggests an investment, stop. No matter how compelling their story, never send money, cryptocurrency or vouchers.
Too good to be true: If their profile feels perfect but they avoid meeting in person, be cautious. Use reverse image search tools to check whether their photos appear elsewhere.
Pressure and secrecy: If they ask for personal information or financial commitments and discourage you from speaking to others, treat this as a warning sign.
Unusual payment requests: Be wary of requests to send money overseas or via cryptocurrency, especially if the explanation feels implausible.
Behavioural science shows that scammers exploit our natural desire for connection, trust and belonging. They use emotional grooming, flattery and urgency to bypass rational caution. Victims may feel isolated, ashamed or worried about judgement, which can make it harder to break away or seek help.
https://www.actionfraud.police.uk/
https://www.victimsupport.org.uk/
https://www.getsafeonline.org/
Fraud doesn’t just cause financial loss — it can undermine confidence and harm long‑term financial security. At Quilter, we believe informed decisions and scam awareness are essential parts of building a brighter financial future. If you’re worried about romance fraud or any other scam, we’re here to help.
But not everyone you meet is who they claim to be. Romance fraudsters use emotional manipulation to build trust, only to exploit it for money. In this video, we’ll show you how these scams work, the warning signs to look out for, and how to protect yourself and your loved ones. Staying informed is one of the strongest defences you have.
Your security is our priority. Read more about keeping your finances safe online.
