Romance scams targeting male victims have risen by 40 per cent in the past year, while those aimed at women saw a drop of two per cent.

According to new data from Nationwide, women are more likely to lose a larger amount of money, losing an average of £10,610 compared to £8,181 lost by men.

Romance scams involve criminals building online relationships based on a false sense of trust and the promise of a relationship, after which they then request money by using an emotional backstory to manipulate their victims.

Nationwide said that 39 per cent of male victims were between the ages of 50 to 70 years old, while 45 per cent of female victims fell into this age group. Younger men aged 20 to 30 years old accounted for 20 percent of male victims, with the bank revealing that men in this age group were twice as likely to fall for a romance scam.

Around half of romance scam cases reported to Nationwide last year involved a loss of under £1,000. The bank said this is because criminals initially ask for a lower payment value which rises as trust and confidence with the victim builds. A quarter of cases involve claims for £1,000 to £5,000.

“Criminals can be very convincing and persuasive enough to get someone looking for love or feeling lonely to give them their trust, personal details and ultimately their money, even when they haven’t actually met each other in person,” said Jim Winters, director of economic crime at Nationwide. “Our data shows all ages can be a target of romance scams as criminals will cast their net far and wide to stand the best chance of snaring a victim.

“This is why everyone looking for love, regardless of age or gender, needs to protect their wallet as well as their hearts by looking out for any red flags. Be curious, ask questions and involve family and friends who have your best interests at heart. Education is the biggest deterrent to scams.”

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