Singles seeking love online this Valentine’s Day are cautioned to be extra vigilant about romance scammers who create fake profiles to deceive and solicit money from unsuspecting individuals.
With new technology like Artificial Intelligence, cryptocurrency, deepfake videos and voice cloning scams can now be more dangerous than ever. Especially in Arizona, with the Grand Canyon State ranking fifth in the nation for romance scam losses after 680 victims lost $25.4 million in 2022.
According to a 2023 report by the Federal Trade Commission, $1.3 billion was lost to romance scams nationwide last year.
What is a romance scammer?
A romance scammer is someone who creates a fake online profile used to connect to their victim using compliments and fake stories to ask for money.
The FTC report stated that more than one-third of romance scams were initiated through Instagram or Facebook, with messaging apps like WhatsApp and Telegram close behind.
How to recognize a scam
Be alert if they ask you for money or can’t meet in person. Scammers often say they live outside of the United States and will tell you exactly how they want you to pay them, usually by feigning an emergency.
The FTC reported payments in gift cards were the most common, however cryptocurrency payments were the most damaging. Using wire transfers or money transfer apps also make it difficult for you to get back what you paid.
What should I do if I am contacted by a scammer?
If you suspect you are being scammed, stop communicating with the person immediately. If you have paid them, contact your bank as soon as possible and report it to the FTC.
Top 5 tips to avoid romance scams:
- Perform a reverse image search of their profile photo to confirm if they are real. You can use online identity verification companies like Social Catfish.
- Never send money or give personal information to anyone online.
- Avoid anyone who cannot meet because they are in the military or live overseas.
- If they confess love too quickly and demand the same in return, it is a scam.
- If they use poor grammar but claim to be rich and successful, it is a red flag.
