THE FBI has warned of romance scams that can drain people’s bank accounts and leave them heartbroken.
Threat actors are using romance as a way to weasel into people’s hearts and wallets.
In fact, romance scams are one of the most highly-reported financial losses, the FBI said.
A new report by the government agency estimates that 19,050 victims reported losing $739,030,292 to romance scammers in 2022.
WHAT IS A ROMANCE SCAM?
A “romance scam” describes a bad actor creating a fake online persona on apps like Tinder or Facebook to gain a victim’s affection and trust.
The threat actor then uses that perceived “trust” to manipulate or steal from the victim, according to the FBI.
Typically, this comes in the form of urgently asking for cash through cryptocurrency, wire transfer, or peer-to-peer payments through apps like Zelle and Venmo.
Sometimes, scammers may ask victims to disclose banking details or purchase items online.
“The scammer’s intention is to establish a relationship as quickly as possible, endear himself to the victim, and gain trust,” the FBI said in a statement.
“Scammers may propose marriage and make plans to meet in person, but that will never happen. Eventually, they will ask for money.”
WARNING SIGNS
There are a number of red flags people can watch out for if they’re concerned about romance scams.
Romance scams target all demographics, however, elderly women appear to be approached most often.
Someone who asks for money, goods, or financial assistance without having met in person is never a good sign.
“Online dating is common today, but unfortunately scammers also thrive on those same sites,” said Sherri E. Onks, Special Agent in Charge of FBI Jacksonville.
“Whether you’re looking for love or a friendship online, be sure you first understand the risk of being exploited. Remember, a scammer will always eventually ask you for something, so set a boundary early on and never, ever send money to someone you’ve never met,” Onks added.
People should also be wary of anyone who claims that meeting them was “destiny” or “fate” and/or reports a sudden personal crisis.
Someone who disappears suddenly on a dating site and then reappears using a different name is also clearly a red flag.
HOW TO PROTECT YOURSELF
There are several steps you can take to mitigate your risk of falling victim to a romance scam.
First, you should never send money to anyone you have only communicated with online or by phone.
Be careful what information you share or make public as fraudsters can use that to target you.
You should also research a person’s photo and profile to see if the image, name, or details have been used elsewhere.
Last, be vigilant of an individual who attempts to isolate you from friends and family or requests inappropriate photos or financial information as this could later be used to extort you.
