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Banks must do more to prevent romance fraud, says FCA

The FCA's review of romance fraud cases in the UK suggests measures for detection, prevention and supporting victims. We summarise the key findings.

Hameed Shuja

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The majority of romance scams involve people who meet on dating apps. Photo: hapabapa/Getty Images
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The UK’s financial regulator has shown concern over the growing number of romance fraud cases, and has asked banks to do more to detect and prevent the scam, and to support its victims.

The warning comes after the findings of an FCA romance fraud review were published last week, revealing

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