Romance fraud, a rising crime that preys on both emotions and finances, cost UK victims an estimated £106 million in the past financial year.

One victim, Varun Yadav, a London banker, turned to a dating app in search of a life partner, only to lose both love and money, according to BBC News.

He ended up £40,000 out of pocket after being persuaded to invest in cryptocurrency.

“I saw the warning signs,” he admitted, “but I was so emotionally invested that I ignored my doubts.”

By the time he realized the truth, fear and shame kept him silent.

Action Fraud, which released the figures, warned that such scams can affect victims far beyond their finances, with serious emotional, social, and even physical consequences.

Mr. Yadav believed he had found the woman of his dreams on a site called Jeevansathi, Hindi for “life partner.” She called herself Rekha Shah.

After months of WhatsApp messages and video calls, she persuaded him to invest alongside her.

The scheme wiped out his life savings, leaving him feeling suicidal.

“You see all the signs, but you are so emotionally attached. You are willing to lose the money, but you are not willing to lose the connection,” he told BBC Radio London.

The UK Financial Conduct Authority said banks are failing to seize opportunities to protect customers from romance scams.

Stronger monitoring systems, early recognition of vulnerable individuals, and empathetic support afterward could significantly improve outcomes for victims.