With data showing a significant rise in cases of such "romance fraud," advisors need to be aware of the issue.

The phenomenon of people being man manipulated emotionally by fraudsters to take money and personal information is nothing new, given the immutability of human nature, alas. However, in this time of dating apps and all the other features of a digital age, the way that such predators operate has changed. And so it is necessary for those advising HNW clients to be aware of the threats and help clients avoid problems. This article, from Samara Dutton, a partner in the contentious trusts and probate team at Collyer Bristow, addresses the problem. These issues will raise a number of questions, and we are grateful to the author for broaching the subject. We remind readers that these articles are designed to foster conversations and we welcome responses. Email tom.burroughes@wealthbriefing.com and amanda.cheesley@clearviewpublishing.com

Romance fraud – which involves the manipulation of someone’s emotions to extract money or personal information – is an insidious form of financial exploitation that targets individuals searching for romantic connection. Recent statistics from Action Fraud confirm a significant rise in these scams in the UK over the past five years with more than 8,500 reports, valued at over £92 million ($125.3 million), made in 2024 alone. 

Although the figures suggest that every age group is at risk, there is particular concern for elderly, or otherwise vulnerable individuals with existing capacity issues. Isolation, cognitive decline and a lack of digital literacy provide fertile ground for unscrupulous scammers to build the trust necessary to execute this type of fraud, which invariably leaves its victims not only financially depleted, but emotionally bereft.

This article explores the practical and legal steps HNW families can take to safeguard elderly relatives – particularly focusing on financial protections, the utility of Lasting Powers of Attorney, and the limitations of existing safeguards in the face of evolving digital threats. Finally, it explores the related issue of predatory marriage and the Law Commission’s recent proposals to address this specific form of financial abuse. 

Practical steps families can take to protect loved ones
Digital advances, including AI-powered deepfake technology mean that the perpetrators of these crimes are often untraceable. It follows that preventing romance fraud is far more effective than attempting to pursue the scammer or recover losses after the fact. Families should consider the following practical steps to protect their loved ones:

1. Maintain regular and open communication
Create an environment where elderly relatives feel comfortable discussing their social and financial lives. If they are comfortable confiding in family members without fear of judgment, they are more likely to mention new acquaintances or suspicious requests. Further, regular contact with family members, may mean that they are less vulnerable to the advances of scammers. 

2. Encourage digital literacy
Training older relatives in basic online safety can be invaluable. This includes recognising common scams, not sharing personal or financial details online, and being sceptical of unsolicited contact. Some banks and local councils offer free digital safety courses tailored to older people.

3. Monitor unusual behaviour
Signs such as secrecy, sudden withdrawal from family interactions, or unexplained financial transactions should prompt sensitive inquiry. Families may also notice changes in spending habits or unfamiliar names appearing in conversations.

4. Implement financial controls
Families may wish to help elderly relatives set daily transfer limits, activate account alerts, or use joint bank accounts with oversight capabilities. This can act as a deterrent and allow for early detection of unusual activity.

5. Appoint trusted advisors
Regular meetings with a trusted solicitor, financial advisor, or family office professional can offer another layer of protection. These professionals are often well-positioned to identify red flags and intervene discretely if necessary. If the relative is willing to, it may also be sensible to give their advisors authority to share certain financial information with family members. 

The role of lasting powers of attorney (LPA)
Monitoring, oversight and communication will only achieve so much. For family members to have meaningful authority over an elderly relative’s finances, a Lasting Power of Attorney is crucial.  

An LPA for property and financial affairs will give the chosen attorney (or attorneys) access to and rights over the relative’s finances, allowing them to physically move their money to safety, if doing so is in the relative’s “best interests.” It will also provide the attorney with the legal authority to interact with banks and other financial service providers to help prevent or reverse fraudulent payments.

Unfortunately, the LPA process itself is not immune to abuse and there have been reports over the past few years of fraudsters obtaining LPAs using falsified information. The Office of the Public Guardian insists that such cases are rare, but the LPA process needs to evolve to keep pace with the increasingly sophisticated technological threats. 

Steps towards this have already been taken. Although the Lasting Powers of Attorney Act 2023 is yet to come into force fully, it signals a shift towards digitalising the LPA process, with the aim of making it quicker, more accessible, and more secure. One key improvement is the introduction of advanced identity verification measures, such as digital signatures and biometric checks, which can help prevent fraudsters from impersonating donors or attorneys.

But digitalisation alone will not be sufficient. The new process must ensure that safeguards are embedded at every stage, including ongoing monitoring and real-time alerts for suspicious activity. The introduction of a live register of active LPAs, accessible to financial institutions, would enable better oversight and faster detection of abuse. 

Predatory marriages and the Law Commission’s report
Romance fraud can sometimes escalate into what is known as a predatory marriage – where a fraudster marries a vulnerable person, often with diminished capacity, to obtain access to their assets and money. This is made attractive by the unfortunate and dysfunctional intersection of our laws on marriage, wills and capacity. Under current law in England and Wales, marriage automatically revokes a will (unless it is made in contemplation of that specific marriage), but the bar for capacity to marry is much lower than that for making a will. The result of this is that someone who does not have capacity to change their will, is nevertheless able to revoke it, if persuaded to marry a scammer. This can lead to them unwittingly disinheriting their families, because their marriage results in an intestacy under which the new spouse receives the lion’s share.

Recognising the harm this can cause, the Law Commission’s 2025 Report on modernising the law of wills has proposed that marriage should no longer revoke a will. If enacted, this change would be a significant step forward in protecting elderly individuals. It would ensure that their existing testamentary wishes are preserved unless they actively choose to make a new will post marriage.

Conclusion
Romance fraud is a growing threat that targets some of the most vulnerable in our society. While legal tools such as Lasting Powers of Attorney remain essential, they must be modernised to reflect the realities of a digital world where manipulation can occur with speed and subtlety.

To protect elderly relatives effectively, especially in high net worth families, we must adopt a multi-layered approach: combining legal foresight, digital safeguards, and compassionate communication. Proposed reforms – such as those from the Law Commission – show that the legal landscape is beginning to respond. But families and professionals must keep alert and work together to stay ahead of increasingly sophisticated threats.