Did you know that Romance scams are quite common and have been increasing in prevalence? In 2023, over 64,000 people reported being victims of a romance scam. Reported losses totaled a staggering $1.1 billion. Additionally, the Federal Bureau of Investigation (FBI) received 17,823 complaints, with victims losing nearly $653 million. These numbers would be significantly higher as many Romance scams are not reported.
In this article, we will share a number of steps in identifying Romance Scams.
- Recognize Red Flags:
- Rapid declarations of love: Scammers will often profess their love very quickly, even before meeting in person. Most often times displaying an unhealthy attachment very suddenly, using phases such as “I need you in my life” or “how have I lived this long without you”.
- Requests for money: They may ask for money for various reasons including travel expenses, medical emergencies or other urgent needs. Prior to asking for money, they may promise to support you financially or promise a lavish lifestyle once together, but very soon may end up in a “financial bind” loosing access to their funds and just needing help to get back on their feet!
- Inconsistent stories: Their stories may not add up. They will be listening for clues in the conversations, that is the way they target any perceived vulnerabilities. To protect oneself, avoid answering specific questions about your life and/or families; This will cutoff their supply of information to lend to their stories.
- Reluctance to meet in person: They often claim to be living or working far away, making it difficult to meet face to face. They may arrange FaceTime or other visual calls (Zoom) at specific times; however, these are not to be trusted due to advancing technology and use of AI (artificial intelligence), many have used these tools to disguise their true identities.
- Pressure to act quickly: Scammer will often push you to send money or gifts urgently. Go with your gut, if it feels off it usually it is, call a trusted friend to discuss prior to sending money.
- How to Avoid Losing Money to a Romance Scammer:
- Never: Never send money or gifts to a ‘sweetheart’ you haven’t met in person.
- Stop: Stop communicating with the person immediately.
- Talk: Have your friends and family said they are concerned with your new love interest? Talk to someone you trust.
- Search: Search online for the type of job the person has plus the word “scammer”. (i.e. US Army scammer, Oil Rigger scammer). Do a reverse search of the person’s profile image. Is it associated with another name or the details don’t match up?
- How to Report a Romance Scam
- If you think it’s a scam: report it to the FTC at ReportFraud.ftc.gov . Notify the social networking site or app where you met the scammer as well.
- If you paid a romance scammer with a gift card, wire transfer, credit or debit card, or cryptocurrency: Call the company or your bank right away.
Don’t fall victim to Romance Scams. Stay Informed. Be educated and do your research. If it doesn’t feel right, it probably isn’t. We are always here to help when something doesn’t sound right.
Sunrise Bank, 299 W Granada Blvd, Ormond Beach FL / 386-676-2222 / www.Sunrise.Bank
