The Federal Trade Commission is raising alarms about romance scams that are not only breaking hearts but are also breaking the bank for many individuals. Cybersecurity experts warn that these scams, often initiated through fake dating profiles on online platforms, have led to significant financial losses. In 2022 alone, nearly 70,000 people reported being victims of romance scams, with losses reaching an eye-watering $1.3 billion, according to FTC data, as reported by KXAN.
Scammers commonly create a compelling facade of affection to quickly entrap their victims, looking to swindle money through urgent requests. "They're usually using urgency, they're getting people to jump on it, saying they're hurt, or they need money for some reason. But they're using that kind of methodology for gift cards, because it's very hard to get that money back," Mitchem Boles of GuidePoint Security told KXAN.
In a safety campaign led by Match Group, users of popular dating apps will be receiving warning messages and tips on how to avoid being scam targets. These messages are crafted with the help of law enforcement and financial exploitation experts. The campaign is a direct response to the increasing prevalence of scams, which according to the FTC, resulted in higher losses than any other type of fraud in the U.S, according to Fox 7 Austin.
Scammers are known to quickly try to isolate their marks from the dating platform, often moving the conversation elsewhere while avoiding in-person meetings or video calls. "If anything looks too good to be true, especially as you're communicating to someone, then that can be a red flag," Boles stated in an interview with KXAN.
For individuals who find themselves in questionable romantic situations online, the FBI provides a platform where romance scams can be reported. Amidst the spread of these deceitful tactics, it remains crucial for online daters to remain vigilant, scrutinizing any sudden requests for money or personal information, and closely following up on any warning signs that may indicate a scam is unfolding.
