I am not going to be so fast to judge people on romance scams because they are not necessarily carried out right away.
In stories I’ve talked about on this podcast, several different people have contacted me, telling me that they’re in a millitary or some overseas venture and I was found to be their soulmate. When they ask me to send them money, I remind them what they tell me, I.E. that they’re in the millitary and that the millitary pays them for their travel.
I don’t just give my information out, although I have decided to see where the conversation went. But since I changed my WhatsApp number to my Google Voice, its simple for me to just give that out. They want to try and scam, its the block and report and a discussion you go.
As the article says though, some people may not realize that they are scammed. I understand that. It can be quite interesting to see what these guys tell you.
If I were to say it publicly, these types of scams are sophistocated! They are the ones that just take the most time, you don’t have to click on anything, and you definitely can’t be blamed for being taken advantage of.
Headings in the article include:
- Demographics of romance scams
- How long does the scam last?
- Money lost
- Reporting the scam
How to spot and avoid a romance scam
Let’s take the opening section of the article as it gives us some stats to show that this is a huge problem.
Romance scams continue to plague users, but their costs have risen to staggering heights, according to a Malwarebytes survey carried out last month via our weekly newsletter.
More than 66 percent of 850 respondents have been targeted by a romance scam, and those that were ensnared paid a hefty price, with 10 percent of victims losing $10,000 and up. A shocking 3 percent parted with $100,000 or more. The vast majority of those who lost money were unable to recover it, highlighting the need for increased awareness of evolving romance scam tactics and aggressive new methods of manipulation.
Romance scams, also known as confidence or dating scams, typically involve people being targeted online, with the scammers building their victim’s trust over several months. Victims are led to believe they’re in a committed relationship before being tricked into sending money, valuables, and personal information, or to launder money on the perpetrator’s behalf. In addition, some scammers convince their targets into investing in fraudulent cryptocurrency schemes, a method known as pig butchering.
While these scams are nothing new, their popularity has risen since the pandemic and ensuing loneliness epidemic, driven by an increasing reliance on the internet to connect. However, with the return to in-person gatherings, our survey results show romance scams have hardly petered out. Rather, they’re as pervasive as ever, with 52 percent of respondents targeted in the last year alone. And they’ve advanced, as cybercriminals now tap into global scamming networks for scripts, training, and technology to squeeze more money from victims.
As David Ruiz, Senior Privacy Advocate at Malwarebytes, puts it:
“Romance and dating scams are run by sophisticated cybercriminals who know what they’re doing. They conduct research, and follow a playbook. The more we can remove the stigma surrounding victims and provide education and resources, the faster we can minimize the devastating effects of these scams.”
According to the Federal Trade Commission (FTC), over 64,000 people reported romance scams in 2023, with losses totaling $1.1 billion. The Federal Bureau of Investigation (FBI) received 17,823 complaints last year, costing victims nearly $653 million. However, that data doesn’t capture the recent trend of pig butchering, as romance scammers increasingly incorporate crypto investment fraud for higher payouts. Financial losses from investment fraud totaled $4.6 billion in 2023, the costliest internet crime for consumers.
For a full breakdown of survey results, including demographics, scammer tactics, and financial and emotional impacts, read below.
Under the heading on how to avoid and spot a romance scam, the article says:
Romance scams aren’t going away, so here’s how to spot signs that someone isn’t who they say they are.
- Their profile and picture seem too good to be true
- They profess love and affection very quickly
- They share a lot about themselves in the first meeting
- They claim to be overseas and cannot stay in one place for long
- They try to lure you from whatever platform you are on to talk to you via email or video chat
- They claim to need money for something
If you’re disabled and can’t see pictures, item 1 of this list may ot be so important to you. The rest though, I’ve seen. First thing they’ve done to me is tell me how they love me.
One case that comes to mind which I know I talked about was on a podcast I forget its podcast number but I show the types of messages I was getting and questioned its validity on what the claimant was saying.
Here’s what else the article says you should do to protect yourself.
Here’s what you can do to keep yourself safe:
- Don’t give scammers the information they need. Scammers rely on what you volunteer about yourself online to tweak their script and lure you in. Use tools such as the Malwarebytes Personal Data Remover to minimize the amount of data accessible through search engine results, spam lists, and people search sites.
- Perform an image search of the photo and the name of the person you’re in touch with. Scammers often steal someone else’s image to use as bait, and stolen identities are rife.
- Go slow. Scammers tend to rush, building rapport with their victims as quickly as possible before moving in for the money-themed kill.
- Never give money to anyone you’ve met online
- Get a second opinion from someone you trust
- If in doubt, back away and report the account.
There are tons of statistics and other things you can take from this newsletter article titled Romance scams costlier than ever: 10 percent of victims lose $10,000 or more.
It doesn’t hurt to get a second opinion or even slow down and talk about it publicly and ask questions. That’s what I’ve done. It does make that difference!
Have you ban bait, and what have you learned?