Alert: Friendship Fraud Surge Targets Seniors with ‘Insidious’ Scams

With retirement bringing ample free time, you may find yourself feeling lonely. Fortunately, you’ve made a friend in an online car enthusiast group, sharing a mutual passion for automobiles.

However, this new friend soon informs you of a financial predicament – they’re short on funds for their university textbooks and request a small aid of £50. Considering the good rapport you share, you decide to help through a bank transfer.

This act of kindness turns into the first of numerous monetary requests under the guise of “friendship fraud,” targeting the elderly and vulnerable who seek companionship.

TSB has noticed an uptick in scams where perpetrators use social media to form bonds, only to swindle victims out of significant sums over extended periods.

These schemes bear resemblance to romance scams, ensnaring victims who believe they’ve found a life partner, and particularly prey on seniors who may be isolated or grieving.

In one instance, a TSB client lost £4,000 after connecting with someone on Instagram who needed money urgently for medical expenses. Another case involved a person in their late 60s who, over four years, made 60 payments to a scammer claiming to escape an abusive household.

Another senior was manipulated into sending gift cards and money to a new online friend on Facebook under the threat of ending their friendship. This victim was later reimbursed £3,000.

Caroline Abrahams from Age UK describes these frauds as “particularly cruel and deceptive.”

“Elderly individuals who are lonely or have recently lost someone are especially susceptible to these scams, as criminals exploit their isolation and desire for companionship to financially drain them,” she explains.

“Falling victim to such scams can lead to disastrous outcomes, not only financially but also affecting the victim’s health, wellbeing, and ability to trust others,” she adds.

Recognizing the Scam

Initial contact is often made in interest-based groups on Facebook or via direct messages on Instagram. Fraudsters carefully craft their messages to align with the victim’s interests, effectively grooming them.

Steph Harrison, a fraud expert at TSB, notes that these criminals often take their time before requesting money.

“They study your social media activity and echo your posts to strengthen the relationship,” she states. “It’s a calculated effort that requires preparation from the scammer’s side.”

Once trust is established, the scam can persist for years, with continuous small requests for money for everyday necessities, or occasional large sums, perhaps for an emergency flight for medical reasons.

Payment is typically solicited through gift cards or bank transfers, with victims losing an average of £3,100, as per TSB data.

Steps to Take

The moment money becomes a topic of discussion, end the relationship with your new online acquaintance, advises Harrison.

If you suspect you’ve been scammed, report the incident to Report Fraud and contact your bank. Keep a record of all interactions with the scammer.

If you believe an elderly family member might be a scam target, discuss their new friendship with them.

Investigate any inconsistencies in the friend’s narrative and motivate your relative to scrutinize why they are being asked for money.

Adjust your relative’s social media privacy settings to prevent sharing information that could be exploited by fraudsters.

Age UK offers guidance on avoiding scams and can be reached for free advice at 0800 169 65 65.