Published On: Thu, Mar 19th, 2026
Business | 4,065 views

Rise in con costing pensioners average £3,000 – don’t fall for this | Personal Finance | Finance


Katie Elliott – On the Money (Image: Express)

What would you do for a friend in need? This is a question sick scammers are exploiting with increasing success, and it’s costing victims thousands of pounds. Most of us are now, hopefully, becoming wiser to romance fraud, where criminals build fake relationships over weeks or months, carefully gaining trust before inventing emergencies or hardships to persuade victims to send money.

There’s a new twist now. Fraudsters are reinventing this con and posing as friends instead, mirroring the insidious form of deception, and it’s proving just as devastating.

Older and vulnerable people are the prime targets, according to TSB Bank’s new report, and victims have suffered an average loss of around £3,000 in the UK. In one case, a TSB customer in their late 70s lost more than £4,000 after unwittingly befriending a scammer on Instagram. After taking time to build trust with the pensioner, the cruel individual claimed to be unwell and in urgent need of help with medical bills. The victim sent a string of payments and gift cards before contact dried up.

Online chat catfish with fake identity

More Brits are losing money to fraudsters on social media (Image: Getty)

In another case, a victim made around 60 payments to a scammer posing as a young person trying to escape an abusive family. The “friendship” spanned four years before the trust came to light, and it was reported.

These kinds of friendships are more common than you think, and that’s precisely what scammers rely on. Regardless of how genuine someone may seem, TSB’s advice is to never send money or share personal details with someone you can’t verify. With AI-generated images and profiles becoming even more convincing, appearances can’t be trusted anymore.

Checking in with friends and family, especially those who may be vulnerable, can make a huge difference. And if a new “friend” starts asking for money, it should be treated as a clear red flag.

If you’re worried you may be caught in a similar situation, TSB’s fraud expert Steph Harrison says to contact your bank immediately and report the case to reportfraud.police.uk. She told Express: “It’s also a good idea to review your privacy online, such as your social media account, and use of message boards, to ensure you won’t be targeted again.”

Deal of the week

Waitrose gives MyWaitrose cardholders one free hot drink per day from its self-serve machines. Just bring in a reusable cup and choose from Americanos, lattes, cappuccinos, and tea.

You can apply for a MyWaitrose card online, either a physical or a digital one. To redeem your free drink, simply swipe or scan your card at the till after shopping, then head over to the machine with your cup.

Save money at the pumps

Petrol prices have broken through 140p a litre as global tensions ripple through UK forecourts. The average price hit 141.74p on Tuesday, the highest since last summer, while diesel has risen to a much less palatable 161.20p, its steepest level in months.

The US and Israel’s war with Iran is showing no sign of easing since strikes began on February 28, with disruption around the Strait of Hormuz – which carries around a fifth of the world’s oil and gas – rattling global supply.

Major producers have been suspending output, sending oil prices sharply higher and adding more than 8p a litre at the pumps in just three weeks. Analysts warn prices could reach 170p if the situation escalates further. Drivers can soften the blow ever so slightly by shopping around. Supermarkets are the cheapest places to fill up, thanks to bulk buying and competitive pricing.

According to RAC’s Fuel Watch, Asda offers the lowest average petrol price (at the time of writing) at around 137p a litre, and 156.2p a litre for diesel, followed by Tesco (138p for petrol and 156.9p for diesel).

Loyalty schemes, such as Clubcard, can also offer extra deals to help shave more off the price, so make sure to check the apps. Fuel price comparison apps are also worth a look to find the lowest prices nearby. PetrolPrices and FuelPal are just two of many apps you can download for free to your mobile phone.



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