Would you send $1 million in cash or cryptocurrency to someone you’ve never met? This was the most money lost in a single online love scam in 2020.
Many areas of our lives, especially personal relationships, have changed as time has passed. Dating has developed significantly over the years, and many people have turned to online dating applications to find their one true love due to their increasingly hectic schedules.
While dating apps offer convenience and choice to their users, they also come with their own set of concerns, such as internet love frauds.
What is an internet romance (love) scam?
How prominent are love scams in Singapore?
An internet love scams happens when a cybercriminal adopts a fake online persona to win their victim’s affection and trust. The scammer then uses the illusion of a romantic or close relationship to manipulate and/or steal from the victim.
If you’re reading this and thinking this would never happen to you, think again. The concept of internet love scams may seem far-fetched to the bulk of us, but love scams in Singapore are way more rampant than you think.
Within the first half of 2020 alone, the total value lost to love scams in Singapore amassed to an alarming $13.4 million – one unfortunate victim lost a total of $1 million SGD.
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