The Heart Wants What It Wants (So Do Scammers)
Photo Credit: Unsplash.com
It’s time for another chat about scams. Unfortunately, fraud isn’t going away. In most of my posts about fraud, I refer to scammers as being opportunistic. This is important to remember; they will exploit any vulnerability, leaving you (or your loved ones) to face the consequences. This costly mistake can be more detrimental to older Americans, especially if they are on a fixed income. Have you ever heard of the Romance Scam? It’s the one that accounts for the highest loss to people age 60 and older.
While lottery and sweepstakes fraud, imposter fraud, and tech scams are among the most commonly reported crimes against older consumers, romance scams inflict more damage - emotionally and financially. Fraudsters flood dating sites with fake profiles to lure unsuspecting targets. Once the conversation starts, they try to keep it going as long as possible. Scammers will shower their victims with compliments, and they will play the part of a doting and committed partner. After the emotional attachment has started to take root, the scammer is ready for their next step – asking for money. The victim will receive an urgent request for money that the fraudster promises to repay. Common excuses are work emergencies, medical emergencies, or being held up during travel and unable to leave the country. Victims are often asked to wire funds or send gift cards. If successful, most scammers will ask for more until they’ve blown their cover. By this time, the victim is left heartbroken and potentially out of a lot of money, while the scammer moves on to the next person.
Photo Credit: Unsplash.com
Online dating can be a fun, safe, and exciting way to meet people. But, you have to be careful. Follow or share these tips to protect you or your loved ones.
NEVER send money (or gift cards) to someone that you do not know. A new love interest that you have never been with face-to-face is not someone that you know – regardless of how “into you”, they seem to be.
Do your research. Dive deep into the person’s social media. Look at their friends, how long they have had their profile, comments, and posts to determine if this is a real profile. Since that is not a foolproof way to determine if the person is who they say they are, use Google reverse image search to see if their photos appear elsewhere online. Fake photos are a dead giveaway that the person is hiding something.
Go slowly. Everyone wants to be loved and to have their “happily ever after”, but that doesn’t mean you should throw caution to the wind. Take your time and get to know the person and see them for who they really are. If they are a real person with good intentions, they will be happy to slow the pace for your comfort. If not, they aren’t worth your time!
Don’t overshare. It’s easy to open up to someone you love, but when you are meeting someone new, keep your cards close to your vest. Never give out your address, phone number, last name, or other identifying information. Avoid giving out sensitive information that can be used against you. That includes pictures and details that can be used as blackmail.
Stay put. Limit your communications to the dating site only. This is for your protection! Once you go off in a private email or other direct communication, you are putting yourself at risk. Dating sites have security measures in place that keep your identity safe. Only open up further lines of communication when YOU are comfortable and after you know the person.
Report scams. If you have fallen for a scam, don’t be too embarrassed to report it. The dating site, the FBI, and the police need to know. You are not the first person to encounter this kind of scam.
Listen to your gut. If you get the feeling that something’s not right, listen. Have they introduced you to their family and friends? If not, you may want to rethink the relationship. Maybe the person you are talking to isn’t scamming you, but why take the risk? Never go out of your comfort zone. Not only is this a good tip for financial safety, but it can help you stay physically safe as well.
Have you or someone you know been scammed? Would these tips have helped, or do you have more to add? Leave a comment below or email me.
Krista Kyte is a personal finance blogger and personal banker with over 18 years of experience in the financial industry. Krista is passionate about helping our members understand their financial situations. She writes tips that will help consumers reach and maintain financial security, and start living the life they’ve always wanted.
