{"id":605226,"date":"2023-02-06T07:49:23","date_gmt":"2023-02-06T13:49:23","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/06\/romance-fraudsters-stole-65m-from-brits-since-2020\/"},"modified":"2023-02-06T07:49:23","modified_gmt":"2023-02-06T13:49:23","slug":"romance-fraudsters-stole-65m-from-brits-since-2020","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/06\/romance-fraudsters-stole-65m-from-brits-since-2020\/","title":{"rendered":"Romance fraudsters stole \u00a365m from Brits since 2020"},"content":{"rendered":"<div id=\"content-header\">\n<h2>Online romance fraudsters have scammed Brits out of \u00a365m in the past three years, according to retail bank TSB<\/h2>\n<\/div>\n<div id=\"content-center\">\n<ul>\n<li><i data-icon=\"1\"><\/i><\/li>\n<li><i data-icon=\"2\"><\/i><\/li>\n<\/ul>\n<div id=\"contributors-block\">\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Alex-Scroxton-CW-Contributor-2022.jpg\" alt=\"Alex Scroxton\">\n\t\t\t\t\t<\/p>\n<p><span>By<\/span><\/p>\n<ul>\n<li>\n\t\t\t\t\t<a href=\"https:\/\/www.techtarget.com\/contributor\/Alex-Scroxton\">Alex Scroxton,<\/a><br \/>\n\t\t\t\t\t\t<span>Security Editor<\/span>\n\t\t\t\t\t\t<\/li>\n<\/ul>\n<p>\n\tPublished: <span>02 Feb 2023 0:01<\/span>\n<\/p>\n<\/div>\n<section id=\"content-body\">\n<p>Financial losses to romance <a href=\"https:\/\/www.computerweekly.com\/opinion\/The-rise-of-fraud-in-pop-culture-is-impacting-consumers-digital-trust\">fraud<\/a> have spiked by 95% across the consumer retail banking sector since the beginning of 2020, according to statistics released by <a href=\"https:\/\/www.tsb.co.uk\/personal\/\">TSB<\/a> as part of a campaign to draw attention to the problem.<\/p>\n<p>In a report released today, the bank revealed that fraudsters posing as potential love interests online scammed more than 7,000 Brits out of \u00a365m during the period, with each victim losing an average of \u00a310,000.<\/p>\n<p>It said that during one six-month period, cyber criminals took \u00a317m, and that even now, the banking sector as a whole is recording just over 60 new cases of romance fraud every week.<\/p>\n<p>TSB found romance fraudsters are fairly indiscriminate in who they target, with case volumes evenly distributed across age demographics. However, despite accounting for just 25% of victims, the majority of financial losses are incurred by people aged between 51 and 65.<\/p>\n<p>Perhaps related to this, the highest losses are often incurred by those who are emotionally vulnerable or have recently had a life-changing experience, such as the breakdown of a previous relationship or the untimely death of a partner.<\/p>\n<p>Paul Davis, director of fraud prevention at TSB, said: \u201cThe best way of beating romance scammers is by talking to friends and family about the relationships you\u2019re in. If you\u2019re ever asked to send money, then it\u2019s time to stop.<\/p>\n<p>\u201cSocial media and tech firms need to step up to better protect those seeking relationships on their platforms.\u201d<\/p>\n<p>Davis also stressed the importance of not giving away personal or sensitive information to people you have never met.<\/p>\n<p>A typical romance scam will begin on social media \u2013 Meta\u2019s Facebook and Instagram are predictably most-frequently exploited due to their vast user bases \u2013 but <a href=\"https:\/\/www.computerweekly.com\/news\/252496156\/Dating-app-users-warned-to-watch-out-for-scammers\">scammers also make good use of dating platforms<\/a> such as Grindr, Match, Plenty of Fish and Tinder.<\/p>\n<p>Scammers will spend a significant length of time building trust with their marks \u2013 the average relationship lasted about 53 days before asking for money.<\/p>\n<p>In most cases, they asked for financial help to cover bills or daily living costs, but a not-insignificant number claimed to be stranded abroad and supposedly in need of help to get back to the UK.<\/p>\n<p>In about 8% of cases, the scammer posed as a citizen of a foreign country who wanted help getting to the UK to be with their victim. Last year saw a notable spike in scammers <a href=\"https:\/\/www.computerweekly.com\/news\/252522145\/Romance-scammers-exploit-Ukraine-war-in-cynical-campaign\">pretending to be Ukrainians in this way<\/a>.<\/p>\n<p>Many victims get so caught up in their online relationships that they go into debt, taking out loans to cover their losses.<\/p>\n<p>In about 4% of cases, there was an element of blackmail involved in the scam, with payments being demanded after sharing explicit images or other personal information.<\/p>\n<p>TSB said that while romance fraud accounts for just 4% of losses seen by its customers, they are \u201ccertainly the most emotive scams\u201d that it refunds.<\/p>\n<p>It laid out five steps people can easily take to safeguard their wallets, and hearts:<\/p>\n<ul>\n<li>Remain suspicious when using dating sites, and don\u2019t volunteer too much personal information too early on.<\/li>\n<li>Speak to trusted friends and family about new connections you make online \u2013 they will be able to advise more impartially, or spot holes in your new friend\u2019s story you might have missed.<\/li>\n<li>If the conversation turns to money, shut it down.<\/li>\n<li>Be suspicious of over-elaborate and emotive stories.<\/li>\n<li>Take things slowly \u2013 no matter how perfectly an individual may present themselves, they could still be lying, so don\u2019t get caught up in a story you can\u2019t validate.<\/li>\n<\/ul>\n<\/section>\n<section id=\"DigDeeperSplash\">\n<h4>\n\t\t\t<i data-icon=\"m\"><\/i>Read more on Hackers and cybercrime prevention<\/h4>\n<ul>\n<li><a id=\"DigDeeperItem-1\" href=\"https:\/\/www.computerweekly.com\/news\/365529998\/CryptoRom-scam-abuses-Apple-and-Google-app-stores-to-claim-victims\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/visuals\/German\/article\/credit-card-fraud-adobe_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/cdn.ttgtmedia.com\/visuals\/German\/article\/credit-card-fraud-adobe_searchsitetablet_520X173.jpg 960w,https:\/\/cdn.ttgtmedia.com\/visuals\/German\/article\/credit-card-fraud-adobe.jpg 1280w\" alt ><\/p>\n<h5>CryptoRom scam abuses Apple and Google app stores to claim victims<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Alex-Scroxton-CW-Contributor-2022.jpg\" alt=\"AlexScroxton\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Alex\u00a0Scroxton<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-2\" href=\"https:\/\/www.computerweekly.com\/news\/252528928\/Proposed-digital-fraud-refund-rules-risk-excluding-many-victims\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/visuals\/German\/article\/credit-card-fraud-2-adobe_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/cdn.ttgtmedia.com\/visuals\/German\/article\/credit-card-fraud-2-adobe_searchsitetablet_520X173.jpg 960w,https:\/\/cdn.ttgtmedia.com\/visuals\/German\/article\/credit-card-fraud-2-adobe.jpg 1280w\" alt ><\/p>\n<h5>Proposed digital fraud refund rules risk excluding many victims<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Alex-Scroxton-CW-Contributor-2022.jpg\" alt=\"AlexScroxton\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Alex\u00a0Scroxton<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-3\" href=\"https:\/\/www.techtarget.com\/whatis\/feature\/Common-cryptocurrency-scams\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/onlineimages\/money_g932729776_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/cdn.ttgtmedia.com\/rms\/onlineimages\/money_g932729776_searchsitetablet_520X173.jpg 960w,https:\/\/cdn.ttgtmedia.com\/rms\/onlineimages\/money_g932729776.jpg 1280w\" alt ><\/p>\n<h5>9 common cryptocurrency scams in 2023<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/onlineimages\/hetler_amanda.jpg\" alt=\"AmandaHetler\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Amanda\u00a0Hetler<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-4\" href=\"https:\/\/www.computerweekly.com\/news\/252525391\/Bank-warns-of-spike-in-online-cost-of-living-scams\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/HeroImages\/bills-debt-cost-of-living-crisis-Kawee-adobe_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/HeroImages\/bills-debt-cost-of-living-crisis-Kawee-adobe_searchsitetablet_520X173.jpg 960w,https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/HeroImages\/bills-debt-cost-of-living-crisis-Kawee-adobe.jpg 1280w\" alt ><\/p>\n<h5>Bank warns of spike in online cost-of-living scams<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Karl-Flinders-profile-pic-2022-140x180px.jpg\" alt=\"KarlFlinders\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Karl\u00a0Flinders<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<\/ul>\n<\/section>\n<\/div>\n<p><a href=\"https:\/\/www.computerweekly.com\/news\/365530134\/Romance-fraudsters-stole-65m-from-Brits-since-2020\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Elroy Mayoral<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Online romance fraudsters have scammed Brits out of \u00a365m in the past three years, according to retail bank TSB By Alex Scroxton, Security Editor Published: 02 Feb 2023 0:01 Financial losses to romance fraud have spiked by 95% across the consumer retail banking sector since the beginning of 2020, according to statistics released by TSB<\/p>\n","protected":false},"author":1,"featured_media":605227,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37059,4836,46],"tags":[],"class_list":{"0":"post-605226","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fraudsters","8":"category-romance","9":"category-technology"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/605226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=605226"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/605226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/605227"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=605226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=605226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=605226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}