Romance scams - are they bad for business?

You’ve been on your own for a while and want some company. Then one day, you meet someone online who just gets you. You message back and forth, share photos, and spend hours on the phone. Weeks turn into months, and before you know it, you feel genuinely close. They live abroad, so you haven’t met face to face yet, but the connection still feels real.

After a while, things start to change. They tell you they’re having money trouble and might lose their home. You care about them, so you send a few hundred pounds to help. It doesn’t feel like a big deal, especially if it makes things easier for them.

Later, they start talking about finally meeting in person. You’re excited. This is what you’ve been waiting for. But there’s a catch, they can’t afford the plane ticket. You want to make it happen, so you agree to help, even taking out a loan to cover the cost. For a short time, everything seems fine. Then another problem comes up. And then another. The stress builds on you, making you sloppy at work. When you’re asked if things are OK, you just make excuses.

But then, you stop hearing from them altogether. They’ve disappeared, seemingly off the face of the Earth, along with the money you’ve lent them.

If any of this sounds familiar, it could be a romance scam.

Sadly, these scams are very common. Fraudsters are often patient and convincing, spending months building trust before asking for money, and they may use stolen photos and believable stories to keep the relationship feeling real.¹

Romance scams can create real risks for businesses. If a scammer discovers that their target works for a company, they may use that relationship to try to access company money or sensitive information.

If someone is being emotionally manipulated, the stress of worrying about the other person can mean that they’re more vulnerable to making mistakes. These can include falling for phishing attempts or bypassing internal checks. These kinds of errors can have extremely expensive consequences. Phishing attacks in 2025 led to the exposure of GitHub tokens and cloud access keys by the software provider npm – a huge security breach,² while a large-scale ransomware attack on Marks & Spencer caused nearly £300 million of damage to their operating profit. Marks & Spencer confirmed that social engineering had led to the breach.³ Making sure your employees are aware of the importance of internal checks and how to avoid phishing attempts can help you to minimise the risks of cyberattacks, and limit any potential damage.

There are several signs that an employee may be experiencing a scam. Look out for changes in behaviour like:

• Irritability or defensiveness when questioned about their work

• Being withdrawn or anxious, and staying unusually quiet

• Distractedness and inability to focus on their work

• Increased secrecy, or being unusually protective of their phone or online activity

It’s important to help colleagues understand different types of fraud, including romance scams, and how these can affect both them and the business. Having strong financial controls in place also makes a big difference. That means making sure the person who sets up a payment isn’t the same person who approves it. This is often called the ‘four eyes principle’, and it can help reduce the risk of fraud and financial loss.

Romance scams can be difficult to spot, and even harder to talk about. If you’re concerned about a colleague, it’s important to handle the situation with care and sensitivity. If you feel comfortable speaking to them, keep the conversation gentle and non-judgemental, and focus on how they’re feeling.

 For example:

• “I’ve noticed you seem under a lot of pressure lately. Are you OK?”

• “You don’t seem yourself at the moment. Just wanted to check in.”

Avoid accusing them of being scammed or telling them what they should do. If the opportunity comes up naturally, you can mention that romance scams are common and often very convincing. Sharing such information in passing can help without making someone feel defensive.

Remember that it’s not your role to challenge the suspected scammer, gather evidence or push the colleague to act. This can damage trust and make the situation worse, so instead, focus on getting the right support involved. Depending on the situation, speak to:

• A line manager

• HR

• Finance or risk teams

• IT or cyber security

Stick to what you’ve observed, rather than assumptions or conclusions.

Remember to be understanding, because romance scams can affect anyone. Handling concerns with empathy and care helps protect both people and the business. People caught up in romance scams are often isolated, so encouraging them to speak to someone they trust, such as a friend, family member or another colleague, can really help.

If you, a colleague, a friend or family member has been affected by a romance scam, it should be reported to the police. If you want to stay anonymous, you can share images, names and other details with Scamalytics to help identify and disrupt potential fraudsters.

Romance scams are often seen as a personal issue, but they can quickly become a business risk, as stressed employees may become more likely to make mistakes in their work. That’s where cyber insurance comes in. It doesn’t cover the personal scam, but it does help protect your business if human manipulation leads to a cyber incident or financial loss.

Romance scams show that cyber risk isn’t always technical, it’s human. Cyber insurance helps you protect both.

See our dedicated cyber insurance page for more information.

1. https://www.ourwatch.org.uk/crime-prevention/crime-types/scams-and-fraud/protecting-against-scams/romance-fraud

2. https://www.natwest.com/business/insights/technology/fraud/how-romance-scams-can-threaten-your-business.html

3. https://www.surrey.police.uk/romancefraud

Consistent with our policy when giving comment and advice on a non-specific basis, we cannot assume legal responsibility for the accuracy of any particular statement. In the case of specific problems we recommend that professional advice be sought.