The Federal Trade Commission reports that for the last three years romance scams have taken more money from victims than any other fraud. The scams typically originate in dating apps or on social media, and they end after the victim has sent money, often thousands of dollars, to the scammer. Scammers may also use their victims as money mules to launder ill-gotten gains.
People of any age can become victims of a romance fraud. Although younger adults are more likely to report losing money in these scams, older persons report higher losses. The median loss for victims in their 20s was $770, with losses reaching $6,450 for those in their 70s. These are median losses and there are individual cases where losses run into hundreds of thousands of dollars.
The Federal Bureau of Investigation offers these tips for avoiding romance scams:
- Be careful what you reveal online. Scammers can use details shared on social media and dating sites to better understand and target you.
- Research the person’s photo and profile using online searches to see if the image, name, or details appear elsewhere. Many times, scammers use stock photos in their profiles, so doing a reverse image search can show you where else the photo has been used.
- Go slowly and ask lots of questions. If you don’t get answers, that is a big red flag.
- Beware if the individual seems too perfect or quickly asks you to leave a dating service or social media site to communicate directly via email or text.
- Beware if the individual attempts to isolate you from friends and family or requests inappropriate photos or financial information that could later be used to extort you.
- Beware if the individual promises to meet in person but then always cancels and gives an excuse why he or she can’t. If you haven’t met the person after a few months, for whatever reason, you have good reason to be suspicious.
- Never send money to anyone you have only communicated with online or by phone.
Because the elderly can experience large losses from these scams, it is wise to help protect your parents and other elderly relatives. In addition to the above tips, Lifehacker suggests the following:
- Send them evidence of similar scams to make them aware.
- Have your relative demand identification and vet it yourself to make sure it is genuine.
- When you discuss your concerns with your relative, do not be confrontational.
