'You are willing to lose the money, but not the person' says romance scam victim

London banker Varun Yadav fell victim to romance fraud on a dating app, losing his life savings of around £40,000 after being manipulated into investing in cryptocurrency. Varun's story sheds light on the rising trend of romance fraud in the UK, with victims losing an estimated £106 million in the past financial year. Financial institutions, like the Financial Conduct Authority, are urged to enhance measures to combat romance scams, while Action Fraud provides key tips to protect against such fraud, emphasizing the importance of not sending money to individuals met online and raising awareness about the issue.