Cybercriminals are preying on emotions to gain access to victims’ wealth through romance scams. These scams, where criminals build a relationship and trust with the target before soliciting money or access to accounts, cost consumers $1.14 billion in 2023, with median losses per person reaching $2,000.
The Emotional Manipulation Behind Romance Scams
Romance scams exploit emotional vulnerabilities, making them particularly insidious. Tracy Kitten from Javelin Strategy & Research explains that scammers build relationships over time, eventually convincing victims to send money or provide access to bank accounts. This tactic often starts on social media, where around 40% of initial contacts occur.
Red Flags to Watch Out For
1. Requests for Money:
The most significant warning sign is when a new romantic interest asks for financial assistance.
2. Unsolicited Messages:
Scammers often use bots to send out mass messages. A simple “hi” can be the bait to lure victims in.
3. Too Good to Be True:
Be cautious if someone quickly shares your interests and insists on moving the conversation to a different platform.
4. Refusal to Meet:
Excuses for not meeting in person or asking for money for travel expenses are common tactics.
5. Isolation Attempts:
Be wary if they discourage you from discussing the relationship with friends or family.
6. Pressure Tactics:
Persistent badgering for financial information or maintaining the relationship is a red flag.
Preventing Romance Scams
1. Reverse Image Search:
Use online tools to verify the images shared by the person.
2. Privacy Settings:
Be mindful of the information you share on social media.
3. Take Your Time:
Ask detailed questions about their background and watch for inconsistencies.
4. Avoid Financial Transactions:
Never send money or financial information to someone you’ve only met online.
5. Public Meetings:
If meeting in person, choose a public location. If the person is hesitant, it’s a red flag.
Reporting and Support
If you suspect a romance scam, report the profile or messages to the platform and the FTC at ReportFraud.ftc.gov. For severe cases, contact the FBI. Victims can seek free support through The Cybercrime Support Network’s 10-week virtual recovery group led by licensed counselors.
By staying vigilant and informed, you can protect yourself from the emotional and financial harm caused by romance scams.
