Looking for love online? You may want to use some extra caution.
A new notice released Tuesday by the Federal Trade Commission highlights a surge in ‘romance scams,’ or scenarios where scammers trick love-lusting internet users into sending them money, only to later disappear.
The scams cost victims an astonishing $143 million in 2018, up from $33 million the previous year and making it the most costly type of consumer fraud reported to the FTC.
These romance scams typically involve a user creating a phony profile and approaching someone via a dating app or website.
The phony profiles tend to use a fake photo to deceive the other user into thinking they’re someone they’re not.
Over time, cybercriminals gain the victim’s trust and love with the goal of getting them to send money via gift cards, wire transfer and other ways, the FTC noted.
Romance scams have continued to rise as more and more users reported them to the FTC in recent years.
The FTC received 21,000 user complaints of romance scams in 2018, which is a stark increase from the 8,500 complaints it received in 2015.
And the elderly appear to have gotten hit the most financially: The FTC said users over 70 reported an average loss of $10,000.
The median reported loss overall was $2,600, the agency noted.
However, users between the ages of 40 and 69 are most at risk of getting targeted with romance scams, according to the FTC.
HOW CAN YOU AVOID ‘ROMANCE SCAMS’?
Romance scams, where criminals create phony profiles to trick love-lusting victims into sending them money, are on the rise.
To avoid falling prey, here’s what you can do:
Slow down and talk to someone you trust. Don’t let a scammer rush you.
Never wire money, put money on a gift or cash reload card, or send cash to an online love interest. You won’t get it back.
Contact your bank right away if you think you’ve sent money to a scammer.
Report your experience to the online dating site, FTC or the Federal Bureau of Investigation.
Romance scams have continued to rise as more and more users reported them to the FTC in recent years. The FTC received 21,000 user complaints of romance scams in 2018, which is a stark increase from the 8,500 complaints it received in 2015
Romance scammers are hard at work wooing people on dating apps and social media,’ Lisa Weintraub Schifferle, an attorney for the FTC’s Division of Consumer & Business Education, wrote in a blog post.
‘They may lift photos to create an attractive profile or even steal the identity of a real person.
‘Just like with real romances, it may take them some time to gain your trust, but the scammer’s payoff can be big,’ she added.
With more than 40 million Americans on dating services, ranging from Tinder to eHarmony, there’s plenty of opportunity to get scammed.
Experts say that if someone requests money on a dating app, that should serve as a major red flag.
Additionally, if a user professes love to you not long after the conversation begins, that should also be an indicator that it’s a scam.
And the elderly appear to be hit the most: The FTC said users over 70 reported an average loss of $10,000. The median reported loss overall was $2,600, the agency noted
Experts say if someone requests money on a dating app, that should be as a major red flag. Also, if a user says they love you not long after meeting you, that could indicate it’s a scam
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