The Rise of Romance Scams in : A Growing Threat to Online Daters

Romance scams have seen a dramatic increase in the first quarter of 2025, with reports rising by 20% year-over-year, according to new data from UK banking giant Barclays. The growth of online dating platforms and mobile apps has opened up new avenues for fraudsters, making it easier for them to target potential victims. With a sharp uptick in both the number of cases and the amount of money lost, romance scams are becoming an increasingly significant concern.

The Escalating Costs of Romance Scams

According to Barclays’ findings, the majority of romance scams in early 2025 have originated from dating apps and social media platforms. The numbers are staggering: 12% of UK adults have either fallen victim to or know someone who has been targeted by a romance scam. The average loss to victims in 2024 was £8,000 ($10,704), a notable increase from the previous year’s £5,800 ($7,760).

One of the most alarming trends is the sharp rise in losses for older victims. In 2024, individuals aged 61 and older lost an average of £19,000 ($25,422), signaling that scammers are increasingly targeting older, potentially less digitally savvy people. This demographic is particularly vulnerable, with scammers using emotional manipulation and urgency to coax money from them.

Interestingly, while women are typically seen as the most vulnerable group in many types of scams, the data for romance scams paints a different picture. Men made up 60% of the total reports in Q1 2025, and 57% of the total monetary losses. This shift highlights a growing vulnerability among men who might be equally susceptible to the emotional tactics used by scammers.

Scammer Tactics and Emotional Manipulation

Romance scammers are becoming more sophisticated in their approach. In many cases, scammers initiate contact and quickly build rapport with victims, often within a matter of weeks. According to the report, 39% of victims reported that the scammer requested money within a month of first contact, making the fraud feel more urgent and convincing.

Scammers often use fake emergencies as their primary method of coercion, with 32% of victims saying that the scammer invented urgent situations such as medical bills or travel costs. Another 26% cited travel expenses, such as flight tickets and visas, as the fabricated reason for needing financial assistance. This emotional manipulation plays on the victim’s empathy and the desire to help someone they think they are in love with.

Interestingly, a significant portion of victims—around 19%—admitted they ignored warning signs because they were excited about the possibility of finding love. This highlights how loneliness and the yearning for connection can make individuals more susceptible to deception.

The Role of Tech Companies and Banks in Combatting Scams

Barclays data reveals that a vast majority of consumers, 76%, believe tech companies should do more to combat romance scams on their platforms. Experts in cybersecurity are pushing for improved verification protocols that can help prevent scammers from exploiting online platforms in the first place.

Marko Maras, CEO of Trustfull, emphasizes that open-source intelligence could play a key role in tightening verification controls. For instance, verifying whether the user’s phone number or email matches the name on their profile can be an effective first line of defense. Detecting AI-generated images or celebrity photos used as profile pictures could also help weed out fake profiles before they gain traction.

Banks, too, have a role to play. Silvija Krupena, Director of the Financial Intelligence Unit at RedCompass Labs, suggests that financial institutions could analyze customer behavior more closely to spot the red flags of romance scams. Unusual banking patterns, particularly involving large sums of money or cryptocurrency transactions, should raise immediate concerns. By monitoring customer activity in real-time, banks could intervene early and potentially prevent large-scale financial losses.

What Undercode Say:

Romance scams have undeniably evolved, becoming more sophisticated, targeted, and financially devastating. The growing dependence on dating apps and social media platforms has made it easier for scammers to find victims, but it’s also clear that the emotional manipulation employed by fraudsters is highly effective. By preying on individuals’ vulnerabilities, such as loneliness and the desire for companionship, scammers can convince people to part with significant sums of money.

The increase in losses, especially among older individuals, suggests that scammers are not only improving their tactics but also refining their targets. As digital platforms continue to shape how people interact romantically, the need for stronger security measures becomes more pressing. It’s no longer enough for online dating apps to simply provide platforms for users; they must actively protect them from malicious actors.

Barclays’ call for tech companies and banks to take more responsibility is timely. While online platforms can implement stricter verification systems to detect fraudulent activity, financial institutions also need to invest in advanced behavioral analytics to flag suspicious transactions. Fraud detection tools that utilize AI and machine learning could help banks identify patterns indicative of a scam long before the victim realizes they’ve been taken for a ride.

Furthermore, consumer education is an often overlooked aspect of the battle against romance scams. Many victims report ignoring red flags due to the excitement of a new relationship. As such, raising awareness about the warning signs and providing individuals with the tools to recognize fraud could go a long way in mitigating the financial and emotional toll of these scams.

In the face of rising fraud, the question remains: can tech companies and financial institutions move quickly enough to curb the damage, or will the romance scam industry continue to thrive as a result of inaction?

Fact Checker Results:

Barclays’ data is consistent with recent trends showing a rise in romance scams, supported by a clear increase in reported cases and financial losses.
The statistic that 12% of UK adults have been targeted or know someone who has been targeted is corroborated by similar studies from other regions.
The increase in losses for individuals over 60 aligns with broader concerns about the elderly being more susceptible to online scams.