Think You’re In Love? Think Again. It Might Be A Romance Scam | #datingscams | #lovescams
(Photo by Robert Alexander/Getty Images)
Getty Images
There’s an epidemic of loneliness in the U.S. Social isolation has been troubling, particularly post-pandemic.
So it’s not surprising that scamsters have jumped into the void with a number of swindles. So-called “romance” scams are simple. Two people hook up virtually and one party asks for money, then disappears.
Here’s how to avoid these traps, according to Seth Ruden, Director of Global Advisory at BioCatch:
Know the person who you’re sending money to. Only transact with people you know personally and are sure you can trust. Have you seen them in person or even on video?
Ask yourself if you would share your personal information or provide access to your financial services with someone that you have not met in person?
Don’t accept funds or offer to manage funds for someone who is asking for services and is “romantically persuasive” that you have not met.
“Reverse Image Search” is a tool that can be your friend… can you use a common internet search to find the picture that the romantic interest has sent you? Is that picture associated with another person or name or details that aren’t aligned to the story that you were told?
Don’t let anyone rush you into sending them money. Urgency is a clear and consistent scammer strategy and almost always a red flag.
Treat P2P payments such as Zelle and Venmo like cash. Currently, there’s no legislation protecting individuals from authorized payment fraud as they willingly completed the transaction. It’s largely at the banks discretion to decide if you can be reimbursed.
Contact your bank immediatelyif you think you may have fallen victim to fraud of any amount. People are often hesitant to report such scams, especially if the financial loss is minor, due to shame or embarrassment. However, this type of fraud is unfortunately quite common so if it has happened to you, know you’re not alone. Report it so your bank can stop these scammers from hurting you and others again.
I’m all for romance and love, but when it comes to money, it’s no longer a matter of the heart. Be careful out there when cash is involved.
Follow me on Twitter or LinkedIn. Check out my website or some of my other work here.
I speak and write about innovation, investor protection, retirement, money management, history and social issues. My latest book is “Lincolnomics.” All told, I’ve written 19 books including “Keynes’s Way to Wealth” and “Lightning Strikes.” I’ve also been a contributor to the New York Times, The Wall Street Journal and other global publications. I’ve appeared on CNN, FOX, NBC, MSNBC, NPR, PBS and radio stations from Australia to Israel. I’ve spoken across North America.