Bank warns about ‘cruel’ friendship fraudsters targeting older people

Older and vulnerable people are being targeted by online scammers in a “cruel” spate of friendship fraud, a bank is warning.

TSB said criminals are preying on people’s loneliness and desire to seek a connection.

People often just make one payment in such scams, but in one case analysed by the bank, 60 payments had been made over four years.

In this case, a customer aged in their late 60s was befriended on a message board, where the scammer posed as a young person who required financial assistance to flee an abusive family. The relationship spanned four years until it was reported.

In another case, a customer in their late 70s lost more than £4,000 after being befriended on social media. After spending time to form a friendship, the individual then said they were unwell and urgently needed help with medical bills. The well-meaning customer sent a series of payments and gift cards, before contact dried up and they realised it was fraud.

A third case saw a customer in their 70s befriend a new contact. After building trust with regular conversation, the scammer threatened to stop talking with the individual unless they sent gift cards and payments.

TSB said its data shows the average loss per case of impersonation fraud, which involves any form of fraud in which scammers pretend to be a person or an organisation, is more than £3,100.

Steph Harrison, a fraud expert at TSB, said: “Scammers are targeting older and vulnerable people’s life savings, by preying on their goodwill and desire for company and friendship, with the cruel and fake promise of online companionship.

“We can all help by checking in on friends and family – and for those seeking online friendship, be wary, especially if money is involved – as you just don’t know who you’re really talking to.”

Here are some suggestions from Ms Harrison to avoid friendship fraud:

– Online platforms can be a great way to meet people with similar interests, and to strike up friendships, but remain suspicious and do not give personal information or money away to someone that you cannot verify as real.

– With the use of AI (artificial intelligence), fraudsters can be even more convincing now, with AI-produced images that look authentic.

– It can be difficult to discuss friendships and online contact, but being open, if possible, can make all the difference when it comes to fraud. Get friendly, impartial advice about your online connection from someone close by, who can help you spot holes in someone’s story that you hadn’t thought of yourself.

– People should also check in on friends and family members, particularly those who may be vulnerable, to sense check who they are talking with online, and whether it could be a fraud.

– Fraudsters concoct elaborate and emotive stories to demand money. Be wary of any such requests, and if the conversation turns to money, it is time to stop. No matter how friendly the individual sounds online, it could all be false – and just a cruel ploy to get at your money.

Caroline Abrahams, charity director at Age UK, said: “So-called friendship fraud is an especially horrible and insidious type of scam and it’s good to see it highlighted in this way to help put us all on our guard.

“Older people who are lonely or bereaved are particularly vulnerable to being targeted, as criminals seek to exploit their isolation and yearning for friendship to part them from their money.

“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.

“Age UK works with older people across the county to help keep them safe from scams.”

Published: 18/03/2026 by Radio NewsHub