Romance Scams Cost Consumers $1.14 Billion in 2023
An alarming surge in online romance scams has resulted in an estimated loss of $1.14 billion in 2023, according to the Federal Trade Commission (FTC). With a median loss of $2,000, these scams have become the most financially damaging form of impersonation fraud, highlighting the urgent need for awareness and vigilance among online daters.
The mechanics of romance scams typically involve the perpetrator establishing a relationship with the victim, fostering trust before requesting money or personal information. Tracy Kitten, the director of fraud and security at Javelin Strategy & Research, describes this process: “So-called romance scams involve building a relationship and trust with the victim so that the target willingly provides access to their accounts or transfers money to the criminal.”
Common Tactics Used by Scammers
One of the prevalent tactics employed by scammers is known as catfishing, where the fraudster creates a false online persona, often using stolen images. According to Yahoo, these scams frequently initiate through online dating platforms. However, they can also manifest through unsolicited messages on social media or via SMS, as noted by Norton, a cyber safety company.
Scammers often suggest moving conversations off dating apps to more private channels such as text or email, as these platforms can expose their fraudulent activities. Reader’s Digest emphasizes that the urgency to shift communication off a dating app is a significant red flag. Furthermore, if an individual seems overly perfect or shares an uncanny number of common interests, it may indicate a fraudulent intent, since scammers often employ flattery and exaggerated emotional expressions to create dependence.
Another critical warning sign is the refusal to engage in video calls. Excuses like a “broken camera” or “poor internet connection” often indicate that the scammer is concealing their true identity. In addition, many scammers claim to be working or living abroad, particularly in fields like construction, to justify their inability to meet in person. This tactic, as highlighted by the FBI, provides a plausible reason for requesting funds while avoiding face-to-face interactions.
Protecting Yourself from Romance Scams
To safeguard against these scams, there are several proactive measures individuals can take when engaging in online dating. One of the most effective strategies is to insist on video calls. Video chats are difficult to fake and can provide significant assurance of a person’s identity. However, it is essential to be cautious about the personal information shared during these conversations.
Conducting research is also crucial. A reverse image search can help determine if a person’s photo appears elsewhere online, potentially indicating that it has been stolen. Furthermore, confirming details about the individual’s background—including age, location, job, and education—can provide additional context regarding their authenticity.
Most importantly, it is vital to avoid sending money to anyone met online. As Reader’s Digest warns, individuals should never transfer funds to someone they just met, regardless of the circumstances presented, such as needing money for travel or citing a medical emergency.
As online dating continues to grow in popularity, understanding the mechanisms behind romance scams can empower individuals to protect themselves from becoming victims of fraud. By staying vigilant and recognizing the warning signs, consumers can navigate the digital dating landscape with greater confidence and safety.
