This Valentine’s Day, brace yourself for a new kind of heartbreak as a new threat is looming in town – financial heartbreak caused by the sinister rise of romance scams. This little scam makes its way into your bank, drains the money out of it, and before you know it, it has left you broke and desperate.
So, how do these scams work? Disguising in fake personas, scammers will swiftly infiltrate your life, posing as someone with a romantic interest. They work to build a connection, asking probing questions to gain your trust, and pretending to empathise with your situation. But be warned, these leeches’ true goal is to stick to you for financial support.
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Older age groups, particularly those who are single, are more vulnerable to falling for these traps. They are targeted because of the assets they have accumulated over time and the potential loneliness they may feel.
How to spot a scammer?
Mark Zuckerberg-led Meta issued a notice ahead of Valentine’s Day to tread carefully when interacting with strangers online. Romance scams may present themselves on dating apps, emails, text messages, or even discussion forums, often posing as military personnel, celebrities, and even fake profiles on dating apps.
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The scammer initially aims to build a seemingly innocent relationship, just like the start of any relationship. Posing as attractive, single individuals, they ask a multitude of questions to gather personal information. However, this is a one-way street. When asking about the scammers, they evade questions or smoothly avoid any conversation about them. Stealthily, they may claim to be in a dire situation, desperate and in need of money. Since, by now, they may have developed a bond with the victim, they do not hesitate to ask for money for assistance, which the unversed will blindly provide.
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Once this becomes repeated behaviour it gets the scammed suspicious, resulting in them severing all contact.
How to avoid the scammers?
The Federal Bureau of Investigations (FBI) shared advice on how to avoid these frauds by enhancing internet literacy.
Don’t share sensitive information online. The scammer may use this to gain your trust, thereby successfully posing as a “good friend”.
If they ask you a lot of questions, turn the tables on them. If they avoid sharing any information, you’ve got a scam on your hands.
Never share financial information or personal photos of yourself.
Never transfer money to someone you have only communicated with online.
Research the person you are communicating with online before sharing any information with them.
Scammers always avoid meeting you in person, making up plausible excuses.
