TSB warns over 'cruel' spate of new ‘friendship fraud’ cases targeting older and vulnerable people

• Online scammers convincing people to send multiple payments to maintain 'friendship’
• Older and vulnerable people targeted on social media and online platforms
• Commonly, cases span one payment, but the worst case saw 60 payments over four years
• TSB data shows that wider impersonation fraud spiked by 15 percent in a year, and accounts for 29 percent of bank transfer fraud cases
• Average loss to impersonation fraud over £3,000

TSB is warning the public over a spate of ‘friendship fraud’ cases¹ in which cruel scammers are preying on older and vulnerable people’s loneliness and desire to seek a connection.

New TSB data shows a series of recent scams in which criminals are using social media to lure people into online friendships, before extracting money that can range into the tens of thousands.

TSB’s fraud expert, Stephanie Harrison warns that this type of fraud mirrors romance fraud in its approach – with fraudsters building trust and rapport before demanding money. But this type of fraud sees victims simply seeking online contact and friendship – and to combat loneliness.

In the series of cases that TSB analysed, victims made anything from one payment, up to 60 payments, in a ‘friendship’ that lasted several years.

In one case, a customer in their late 70s lost over £4,000 after being befriended on Instagram. After spending time to form a friendship, the individual then said they were unwell – and urgently needed help for 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 total of 60 payments were made in a recent case, where a customer in their late 60s was befriended on a forum. The conversation then moved to a different website, where the scammer posed as a young person who required financial assistant to flee an abusive family. Sadly, this relationship spanned four years until it was reported.

A third case saw a customer in their 70s befriend a new contact on Facebook. After building trust with regular conversation, the scammer threatened to stop talking with the individual, unless they sent gift cards and payments. TSB supported with a refund of over £3,000 in this case.

TSB data shows that impersonation fraud – which involves any form of fraud in which scammers pretend to be a person, or organisation - accounts for 29%² of all bank transfer cases at TSB. And this has increased by 15% in a year. The average loss per case is over £3100.

Steph Harrison, TSB Fraud Expert, 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.”

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Notes to editors

1. TSB analysed customer fraud data over the past year to highlight ‘friendship fraud’
2. TSB customer data for 2025 – with impersonation fraud accounting for 29% of cases by volume for bank transfer fraud

Friendship fraud advice from TSB’s Steph Harrison

• Online platforms can be a great way to meet people with similar interests, and to strike up friendships – but remain suspicious and don’t give personal information, or money away to someone that you can’t verify as real.
• With the use of AI, fraudsters can be even more convincing now – with AI produced images that look authentic; so don’t trust someone based on an image.
• Check in on friends and family – especially those who may be vulnerable – to sense check who they’re talking with online, and whether it could be a fraud.
• 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 a someone’s story that you hadn’t thought of yourself.
• Fraudsters concoct elaborate and emotive stories to demand money – be wary of any such requests, and if the conversation turns to money it’s 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.