Romance Scammers: A Growing Financial Crime
Love and friendship is big business for fraudsters, with unsuspecting Brits losing over £100 million last year.
A review by the regulator has revealed the depth of the problem, with people searching for love in the UK losing £106 million to romance fraudsters last year.
- Scammers target Brits over various things, including fine wine and Winter Fuel Payments.
- They also pretend to be the regulator, making it harder to identify the scams.
The Financial Conduct Authority (FCA) reports that romance fraud cases rose by 9% last year, making it a growing financial crime.
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A single case of romance scamming resulted in a lonely Brit losing £428k.
Author's summary: Romance scammers stole over £100 million from Brits last year.