Nationwide Building Society, serving 16 million customers across the United Kingdom, has issued a stark warning on its official website regarding the escalating threat of romance fraud during online money transfers. The financial institution explicitly advises account holders to halt transactions if they suspect fraudulent activity, emphasising that customers should never allow funds to enter what they term an "online relationship." This caution extends to both sending and accepting money through digital channels.
The Alarming Rise of Romance Fraud
Highlighting the severity of this pervasive issue, Nationwide stresses that many individuals underestimate the danger posed by romance scams, which have become a "huge problem for online dating" platforms. According to the latest UK Finance Half Year Fraud report, a staggering £20.5 million was lost to romance scams between January and June 2025 alone. This figure represents a dramatic 35% increase compared to the same period in 2024, underscoring the rapid growth of this criminal activity.
How Scammers Operate
Nationwide warns that millions of customers could easily fall victim to these sophisticated schemes, as they typically do not unfold immediately. Instead, fraudsters invest considerable time building online relationships based on trust, employing various tactics to convince targets that the connection is genuine. Over weeks or months, they gradually introduce requests for money, using emotional manipulation and exploitation to lure unsuspecting individuals into their traps.
The building society strongly urges customers to never send money regardless of the excuse presented, whether it's for medical fees for an allegedly sick parent or travel expenses to arrange a meeting. Nationwide emphasises that "these are lies" and reminds people that online personas "are not who they say they are."
Practical Protection Measures
Nationwide provides comprehensive guidance to help customers identify and avoid romance fraud:
- Never invest on their behalf: Fraudsters may attempt to coax victims into investments, promising simplicity and guaranteed high returns. Never put your own money into investments based on their advice or for their benefit.
- Keep interactions on reputable platforms: Scammers often try to move conversations away from established dating apps and websites to private emails, phone calls, or instant messaging. These methods are harder to monitor and lack the security features of official platforms.
- Arrange in-person meetings: If someone continually provides excuses for why they cannot meet up, consider this a significant red flag. They may be attempting to conceal their true identity. Remember, if they ever ask for money, it's time to walk away immediately.
- Analyse communication patterns: Fraudsters frequently use pre-prepared scripts and juggle multiple victims simultaneously. They tend to avoid using your name, opting instead for generic terms like 'honey', 'babe', or 'angel'.
- Conduct background checks: As relationships develop online, it's perfectly acceptable to conduct basic verification. Check their presence on other social media platforms, verify details about their employment or residence, and consider running reverse image searches on their photographs, as scammers often recycle images found online.
- Discuss with trusted contacts: Scammers frequently attempt to keep relationships secret. Share details with trusted friends and family members who might identify suspicious patterns or inconsistencies.
Utilising Nationwide's Security Services
Nationwide reminds customers about their dedicated Scam Checker Service, available to anyone uncertain about payments from their Nationwide current account. Customers can contact Nationwide directly or visit a local branch, where trained staff can advise whether a transaction is likely to be fraudulent. This service represents a crucial resource in the ongoing battle against financial exploitation.
As the world's largest building society, Nationwide's warning carries significant weight in the financial sector, reflecting growing concerns about the sophistication and prevalence of romance fraud targeting UK consumers. The institution's proactive stance highlights the importance of vigilance and education in protecting personal finances from increasingly cunning online predators.
