When Cupid’s arrow strikes – staying safe from the heartbreak of romance fraud

Posted: 13/02/2025

‘Beware the slings and arrows of outrageous fortune...’

Roman emperor Claudius II executed two men — both named Valentine — on 14 February in different years during the third century. In later years, Romans marked the feast of Lupercalia, between 13-15 February, with rituals that included animal sacrifices and (violent) ceremonies intended to promote fertility.

While Valentine’s Day in the UK in 2025 will thankfully be celebrated in much more civilised ways, there is a different type of vulnerability to be aware of. Unfortunately, those executing bank transfers to lovers are at risk of losing significant sums to fraudsters who, under the guise of an online sweetheart, are looking to exploit others for financial gain. 

Fraud constitutes over one third of reported crimes in the UK, and 54% of scams start on social media platforms. According to the ONS, over one third of adults in the UK are single. Further, romance scams in the UK increased by almost 60% between February 2023 and February 2024, and a recent poll by a bank revealed that half of the 2,000 people asked had received flirtatious messages they suspected or confirmed to be a scam. Put all of these statistics together and the potent threat of romance fraud this Valentine’s Day becomes clear. 

Fraudsters rely on building their victim’s trust in order to carry out their pernicious crimes. They target the most vulnerable and rely on their victims acting irrationally. Given the very irrational nature of love, therefore, who better (in the eyes of a fraudster) to target this Valentine’s Day than those desperate for Cupid to work his magic?

Do not underestimate the effort fraudsters will go to when carrying out a romance scam. Not only will they set up a fake profile in a matter of minutes, they will invest days, weeks, months and possibly years in building a relationship with their victim before they pounce. Data from UK Finance suggests that the modern trend is for the fraudster to seek to extract multiple, smaller payments from their victim rather than one large sum. This is far from a smash and grab strategy, therefore, and scammers will often be in the market for a longer term ‘relationship’ with their victim. They view this as the cash-cow that can keep on giving. 

Between January and June 2024, for instance, romance scams had an average of approximately 11 payments per case. In July 2024, Barclays produced data showing that on average women who were victims of romance fraud lost £8,900, and men lost an average of £3,500 (but men made up nearly 60% of victims). The group statistically most likely to fall victim are those aged between 55 and 64 years old.

There will (quite literally) be some compensation for victims of these crimes in 2025, who can thank the Payment Systems Regulator (PSR) for greater protection than was afforded to last year’s Valentine’s victims. The PSR introduced a mandatory reimbursement scheme on 7 October 2024 in relation to authorised push payment (APP) fraud (which these romance schemes fall under) compelling banks and payment services providers to compensate victims of APP fraud, up to the tune of £85,000, in all but exceptional circumstances. 

Where a consumer is grossly negligent, however, the bank will be able to deny them compensation. No specific guidance has been provided as to what constitutes gross negligence, but if someone was in the headspace to act unreasonably and wholly irrationally (and therefore negligently), it is not hard to imagine it would be one who is love struck.

Do not be afraid to be swept off your feet if you are lucky enough to find love online this Valentine’s, but the important message is that it is vital to remain vigilant at all times. Love may be blind, but make sure you are not. 

To avoid becoming a victim of romance fraud:

• do not send or receive money to anyone met online;
• never disclose bank details or share personal details;
• keep all passwords and logins for online banking apps/websites safe, secure and constantly updated (where applicable);
• only use trusted websites;
• think before using a webcam and cover it when it is not being used; and
• remember that if something smells fishy, you are probably talking to a catfish.

Take it from an expert in treachery: Paul Gorton, former contestant on the BBC television series The Traitors told The Sun: ‘Stay vigilant to spot a traitor, it’d be too easy if they simply messaged you out of the blue asking for your money. Approach any new relationship with cautious optimism, complete checks and having your wits about you from the start.’

At Penningtons Manches Cooper, we have many lawyers who specialise in advising our clients on fraud prevention and compensation. Whether you are an individual, or a business in the technology or banking sectors, we can help you understand preventative measures you can take to stop fraud and/or advise you on any liabilities you may have or remedies that may be available to you if fraud has taken place.

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