Nationwide scam warning issued by bank's head of fraud

Many bank customers will ignore red flags - or warnings - as they are tricked into believing people they meet online are genuine, and can lose significant amounts of money from their accounts in complex and cruel scams. 

Annya Burskys, head of fraud operations at Nationwide Building Society, said: “Scammers sadly take advantage of people looking for love all year round, but the stakes are higher at this time of year, with our research showing many feel under pressure to have a date around Valentine’s Day while many are lonely.

“Scammers know what they are doing and won’t stop at exploiting unsuspecting victims, especially around Valentine’s Day when emotions run high. If in doubt, speak to your bank or building society for support before making a payment you have suspicions about.”

In the Nationwide survey, a third (36%) of single people admitted to telling white lies about themselves while on dating websites to make a good impression.

But while some admit to telling small untruths, 11% are not confident that they could spot a romance scam, where a criminal uses a fake online identity before manipulating or stealing money from their victim.

Have you seen a deal online that looks too good to be true?

Purchase scams are when a criminal creates fake adverts online to encourage you to buy goods that don’t actually exist.

They continue to be the most common type of APP scam in the UK.

Always stop and think.… pic.twitter.com/HwrSg7ksPx

— Take Five (@TakeFive) January 17, 2025

Nearly half (46%) would ignore 'red flags' and 44% would continue messaging or meeting someone they have met online, even if something did not seem right.

The research also found nearly a quarter (24%) of people feel under pressure to have a date around Valentine’s Day, while nearly three in ten (29%) feel lonely.

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Over a third (37%) of people surveyed by Censuswide in January had encountered social media profiles that seemed “too good to be true,” while 27% of dating singles said they have been contacted by a catfish (someone pretending to be a person they are not).

“Everyone wants to make a good impression when dating, but there’s a clear line between harmless self-presentation and intentional deception," says Annya.

Here are some tips to avoid romance scams from Nationwide:

1. Look out for overly flattering photos or inconsistent details in someone’s story.
2. Do not send money to someone you have not met in person. Be particularly cautious if someone you have just met online asks for money or favours, even if they claim to have an emergency.
3. Report suspect activity. If something does not feel right, report the profile to the platform or dating app. If someone thinks they have been scammed, they should tell their payments provider and the police.

According to the survey of more than 2,000 single people, the most common lies people tell online about themselves include using old or altered photos, fabricating or exaggerating hobbies such as music, sport or reading lists, inflating a job role or salary, pretending to agree with a date’s opinions and telling fibs about height.