Lloyds warns of spike in online 'romance' scams as fraudsters pose as soldiers or oil‑rig workers
Bank analysis shows older customers most affected, with average losses in the thousands as scammers cultivate trust then request urgent payments
Lloyds Bank has warned of a sharp increase in online romance scams in which fraudsters pose as members of the armed forces or oil‑rig workers to cultivate relationships with victims and extract large sums of money.
The bank said victims aged 75 to 84 lost an average of £8,068 — a 15% rise compared with the previous year — while the average loss across all age groups was £5,219. Lloyds reported a 52% rise in romance scams among customers over 55 in the past year and said the largest share of victims remain those aged 55 to 64, who account for one in five cases.
Lloyds' analysis of customer reports identified the most commonly claimed occupations used by scammers as armed forces personnel and oil‑rig workers. The bank noted that these roles are frequently deployed as explanations for why the person cannot meet in person or use video calls. Lloyds also highlighted data points that call some of those claims into question: on 1 April 2024, about 96% of UK regular forces personnel were recorded as stationed in the UK, and in 2022 just 3.4% of offshore workers were female — a statistic that undermines profiles that claim to be female oil‑rig staff.
The bank published anonymised case histories to illustrate the methods used. In one example, a customer identified as Kathy, 80, sent £11,000 after a contact who claimed to be returning from an oil rig was detained and needed £30,000 in tax for machinery. The contact promised to return the money but ceased communication. In another case, an 86‑year‑old man, identified as Keith, was persuaded to send £2,260 to someone he met on a singles website who alleged she needed funds to retrieve inherited gold.
Lloyds also released a redacted transcript of a branch employee intervening as a customer attempted to transfer £10,000 to an online contact. The employee warned the customer that the relationship was likely fraudulent and repeatedly advised against the payment; the customer insisted the contact was genuine and asked the bank employee to accept personal liability. The staff member refused, saying the funds would be lost and that branch procedures required staff to question unusual or risky payments.
Scammers typically build long‑running online relationships, communicating daily to establish trust before presenting an urgent need for money. Reported reasons for requests include medical bills, legal fees, visa or customs payments, travel costs, and supposed business problems. Fraudsters often request bank transfers but also ask for gift cards or other easily monetisable items. Law‑enforcement agencies have documented other tactics, such as hiding money inside parcels or inventing rescue scenarios involving oil rigs.
Detective Superintendent Oliver Little, who leads the City of London Police's operations room for fraud, advised caution for anyone forming online relationships. "If you've met someone online, stay within the app's messaging platform, be wary of requests for money, and speak to friends or family before making decisions," he said. "Criminals will try to isolate you — don't give them the opportunity. Remember: if you haven't met them in person, you don't owe them anything."
Banks and police have said early intervention by staff can halt transfers and prevent losses. Lloyds' published transcript was intended to show how frontline staff can spot warning signs and deter payments that would be irretrievable. The bank urged customers to seek help from branch staff or telephone customer service if they are advised to make large or unusual transfers, and to discuss suspected approaches with family or trusted contacts before sending money.
Industry and police guidance on preventing romance scams includes keeping communication within a dating app until a relationship is established, verifying any claims of employment or deployment independently, and being sceptical of requests for money framed as urgent. Financial institutions have warned that accounts used by older customers are attractive targets because some victims live alone and may be more vulnerable to prolonged emotional grooming.
The rise in reported incidents adds to a broader increase in online‑enabled fraud directed at older and more isolated populations. Financial institutions and law‑enforcement agencies continue to urge vigilance, reporting suspected scams promptly and checking with bank staff if asked to make substantial payments to people met online.