British TSB Bank Reports Sharp Rise in Romance Scams

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TSB Bank plc, based in Edinburgh, has warned of a significant increase in romance scams after its latest report revealed fraud losses and case numbers had climbed sharply over a year. According to comparisons of the lender’s data from 2024 with 2025, money sent to fraudsters posing as romantic partners jumped 37% year-on-year, while overall case volumes rose 15% in the same period.

Figures from the industry body UK Finance also show that in the first six months of 2025, UK victims lost an estimated £20.5 million (US$28 million) to romance fraud across nearly 3,000 reported cases. Victims make an average of 11 payments to fraudsters before stopping, losing approximately £7,500 (US$10,000) per case.

In what are often called pig butchering scams, fraudsters may spend weeks or even months building trust before requesting funds, using stories designed to emotionally manipulate them and explain their absence. Common reasons given to explain requests for funds include financial difficulties (48% of claims), travel expenses (37%), and medical fees (9%). Blackmail makes up 4% of requests.  

Older age groups are disproportionately targeted, with 58% of cases involving people over 55. Social media platforms were the most common origin for romance scams, accounting for 58% of cases, with Facebook alone making up 30% of those. Dating apps account for the next most common origin of scams.

Director of Fraud at TSB, Richard Daniels, said:

Romance scams are some of the most emotional situations that we support customers through – due to both the devastating personal and financial impact on individuals. While online dating is an increasingly popular way of meeting people, it’s vital that we all remain guarded – especially now with the use of AI – until we can be sure it’s a real person we are speaking to. And if the conversation turns to money, it’s time to stop.