Fraudsters are increasingly exploiting loneliness and isolation among older people through a so-called 'friendship fraud' on social media, TSB has warned. The scam, which mirrors romance fraud, involves criminals befriending victims over months or years before making repeated small payment requests that can total thousands of pounds.
In one case, a TSB customer lost £4,000 after befriending someone on Instagram who claimed urgent medical bills. Another victim in their late 60s made 60 payments over four years to a scammer claiming to flee an abusive family. A pensioner who made friends on Facebook was told to send gift cards and money or risk losing contact, resulting in a £3,000 refund from the bank.
Caroline Abrahams of Age UK described the fraud as 'especially horrible and insidious', noting that older people who are lonely or bereaved are particularly vulnerable. 'Being scammed in this way can have devastating consequences, with victims suffering catastrophic losses – destroying not just their finances but their health, wellbeing and capacity to trust other people,' she said.
Fraudsters often initiate contact in Facebook groups or via Instagram direct messages, researching victims' posts to feign common interests. TSB fraud specialist Steph Harrison advised that once the conversation turns to money, victims should sever the relationship immediately. The average loss is £3,100, with payments often made via bank transfer or gift cards.
To protect against such scams, experts recommend checking social media privacy settings, being wary of gaps in new friends' stories, and having open conversations with older relatives about online friendships. Suspected fraud should be reported to Action Fraud and the victim's bank. Age UK offers free advice on 0800 169 65 65.
