Romance Scammers Are Increasingly Targeting Young Adults but Over-65s Are Losing the Most Money

A relationship that begins with a message on a dating app or social media can end with thousands of pounds disappearing.

New figures from Lloyds Banking Group show romance scam reports among its customers aged 18 to 24 rose by 59% in a year. The sharp increase comes despite perceptions that younger adults may be less likely to fall victim to online fraud. Reports involving customers aged 25 to 34 also rose by 39%.

Across all age groups, Lloyds reported a 24% increase in romance scam reports among its customers between 1 September 2025 and 31 August 2026, compared with the previous 12 months.

The figures highlight a clear age divide. Reports are rising particularly quickly among younger adults, while older victims continue to account for the largest share of money lost.

Dating Apps and Social Media Put Younger Adults in Reach

Younger victims often encountered scammers through dating apps and social media, according to Lloyds. Among people aged over 50, traditional dating websites and social media were common places where contact began. Romance scammers typically seek to establish trust and an emotional connection before asking for money.

Liz Ziegler, fraud prevention director at Lloyds, said criminals look for opportunities to build trust before turning a relationship into a financial request. She warned that digital confidence does not provide immunity from fraud.

'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,' Ziegler said.

Older Victims Still Lose the Most

While younger adults recorded some of the sharpest increases in reports, the financial impact was greatest among older victims.

People aged over 65 accounted for 55% of all money lost to romance scams during the latest 12-month period analysed by Lloyds. Victims aged 75 to 84 lost an average of £9,051, the highest average of any age group and 19% more than in the previous year.

Across all age groups, the average amount lost fell by 20% to £4,078.

Patrick Hurley, ombudsman director at the Financial Ombudsman Service, said romance scams can have consequences beyond the money taken. 'Romance scams particularly can leave an emotional scar and the impact on victims is often significant,' Hurley said.

The Financial Ombudsman Service received more than 500 complaints involving romance scams between January 2025 and March 2026.

Personal Information Can Help Build Trust

Separate research from Nationwide Building Society shows how criminals can use apparently convincing details to gain a person's confidence. A Censuswide survey of 2,000 UK adults, conducted between 3 and 7 September 2026, found 15% had provided personal information to someone before realising they were not genuine.

When asked what could make them trust an unexpected caller claiming to represent their bank, 14% cited the caller knowing their full name and 13% their date of birth. Another 10% said sounding professional could make a caller appear trustworthy.

Annya Burskys, head of fraud operations at Nationwide, said criminals may obtain information through fraudulent websites, phishing emails or text messages before using those details to make later scams more convincing. Nationwide said the average loss from impersonation scams was nearly £2,200.

The Warning Signs of a Romance Scam

Lloyds advises people to be cautious when someone they recently met online starts asking for money. Intense declarations of affection can be followed by claims of emergencies or other circumstances requiring financial help. Fraudsters may also use urgency, guilt or emotional pressure to encourage payments.

People should not share banking details, passwords, identity documents or intimate material with someone whose identity they cannot verify. Lloyds also recommends checking suspicious profile photographs with a reverse image search. Speaking to a trusted friend or relative before transferring money can provide an outside perspective.

Ziegler's advice is straightforward: if someone recently met online starts asking for money, step back and speak to someone trusted. The latest figures show why that warning now crosses generations. Younger adults are recording a sharp rise in reported cases, while older victims remain exposed to the heaviest financial losses.