Romance scammers favorite lies exposed Federal Trade Commission Leave a comment

In 2022, 60% of all payments sent to romance scammers were via cryptocurrency or bank wires. Other common payment methods include gift cards (7%) and payment apps (3%). Scammers typically prefer these methods as they offer some level of anonymity and once funds are sent by the victim, the transaction can’t be reversed.

Romance scammers love . . . to take your money

Scammers of all ages, genders, and sexual orientations make fake profiles, sometimes using photos of other people — even stolen pictures of real military personnel. They build relationships — some even pretend to plan weddings — before they disappear with your money. If you paid how to buy bitcoin for the first time a romance scammer with a gift card, wire transfer, credit or debit card, or cryptocurrency, contact the company or your bank right away. Tell them you paid a scammer and ask them to refund your money. Tech support scams involve fraudsters posing as representatives from well-known companies like Microsoft or Apple. They claim that the victim’s computer is infected with a virus and offer to “fix” it for a fee.

In the United States, you can report scams to the FTC at ReportFraud.ftc.gov, and in other countries, you can file a report with similar government or law enforcement agencies. Depending on how the scam was carried out, you may have a number of options. Suspicious messages should be reported to the dating or social media platform on which they were received, such as Tinder or Facebook. If the scammer has taken money from you, it should be reported to your bank—especially if you used a wire transfer, which can be traced. Romance scammers use a number of shady tactics to steal from their victims.

Recently pig butchering scams among other schemes have preyed on the emotional vulnerabilities of lonely people. One of the first documentaries to expose conmen on dating apps was “The Tinder Swindler” how to buy travala stock on Netflix, which followed the lives of victims defrauded by a man named  Simon Leviev. Ayleen Charlotte, one of the victims who helped take down the fraudster, is now using her popularity and experience to help others steer clear of Romance Scams. Gift card scams often start with a phone call or email from someone posing as an authority figure, such as an IRS agent or even a boss.

• Cryptocurrency investment scams are among the most widespread and lucrative scams today, thanks to the soaring popularity of digital assets like Bitcoin and Ethereum.
• Gift card scams often start with a phone call or email from someone posing as an authority figure, such as an IRS agent or even a boss.
• According to the Federal Trade Commission, American consumers lost a whopping $1.14 billion to romance scams in 2023.
• They will offer to travel and meet their victim to prove they are genuine—but only if the victim can pay for their flight.

Tips to Avoid Losing Money to a Romance Scam

They filch someone else’s photos from the web and hide behind the images. A reverse-image search of a photo might quickly reveal the deception. After a week of trading texts, the fraudster will say he’s found his “soulmate” and declare his undying devotion. Just received email asking if I attempted $162 transaction from or with a same name as my financial institution.

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If you spot a love scam, do not hesitate to report it to the authorities. You are very likely not the only victim; others are being defrauded, too. It is certainly true that love does not have an age limit. It is possible that a good-looking female flight attendant might fall in love with a regular middle-aged man. Or a widowed woman can find new love with an exotic young and handsome man from another country. But folks need to be able to spot red flags when they see them.

Instead, they will keep asking for more until you realize it’s a scam and cut them off. Wyman says it’s not that he doesn’t believe in love at first sight; that happened, in fact, when he met his wife. “But I don’t know that I was professing it within the week — she would have thought I was crazy,” he remembers. Wyman says he left feeling “pretty confident” that he’d broken through and the woman would stop communicating with the scammer. Within a couple of days, though, she phoned the agent to say she was coughing up $20,000 more.

Consumer Advisory: Video games are targeting your children to get into your wallet

When it comes to romance scams, Patrick Wyman, a 13-year veteran of the FBI, has seen it all. He’s investigated, helped on or supervised about 300 romance fraud cases. Your bank may attempt to recoup your money, but scammers normally work quickly and clear out their accounts as soon as a bank transfer, such as a wire or ACH transfer, hits their accounts. If that has happened, there is almost no chance of recovering your money. If you think it’s a scam, report it to the FTC at ReportFraud.ftc.gov.

They assumed fake names and trolled dating sites like Match.com testimonials for max motors and Bumbledate.com, searching for targets. Aside from emotional damage, the financial consequences could set victims back years–often destroying savings, financial goals, and family relationships. It’s important to protect yourself online, so never send compromising photos or videos of yourself to someone, especially if you haven’t met them in person. The internet can be an incredible place for community, developing friendships, and sometimes even relationships.

Trapped by “The Tinder Swindler,” Charlotte was scammed out of $140,000 after falling for Shimon Hayut a.k.a Simon Leviev. She was just one of the victims of Hayut who siphoned off millions of dollars from women whom he met through the popular dating app, Tinder. Often times, the first sign of an online dating scam shows up when a romance scammer expresses strong emotions in a relatively short period of time. Guard your personal information carefully, and be wary if a new love interest asks for personal details soon after contact.

Americans are more connected than ever before thanks to social media and dating apps that allow us to stay in touch with old friends all over the world and to develop new relationships online. Yet, even with these new platforms, many of us report feeling lonelier than ever. As Americans increasingly go online in search of meaningful relationships, scammers are following suit. According to the Federal Trade Commission (FTC), in 2022 almost 70,000 people reported being a victim of a romance scam. You can help prevent online dating and romance scams by reporting suspicious behavior and signs of fraudulent activity. Dubious messages should be reported to the dating or social media platform on which they were sent, and you should also tell law enforcement and the FTC at ReportFraud.ftc.gov.