"TSB highlighted how criminals exploit people's loneliness and desire for connection to extract money. While many victims make just a single payment, some cases reveal a far more protracted and devastating impact. One instance, analysed by the bank, involved a customer in their late sixties who made 60 payments over four years."
"They were befriended on a message board by a scammer posing as a young person needing financial aid to flee an abusive family; this relationship endured for four years until reported. Another victim, a customer in their late seventies, lost over 4,000 after forming a bond on social media."
Online "friendship fraud" targets older and vulnerable individuals by exploiting their loneliness and desire for connection. Criminals pose as trustworthy individuals on social media and message boards, gradually building relationships before requesting money for fabricated emergencies like medical bills or escape from abusive situations. Victims range from those making single payments to cases spanning years with dozens of transactions. One victim in their late sixties made 60 payments over four years, while another in their late seventies lost over £4,000 after being deceived about medical expenses. Banks warn this represents a growing and cruel threat to vulnerable populations.
Read at www.independent.co.uk
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