Romance scams are on the rise and have increasingly grown to permeate online spaces.
How Do Romance Scams Happen?
Scammers build their lies to explain why they cant visit the victim or leave their current situation.
Many scammers also offer enticing investment opportunities that are ultimately fake.
Many scammers start off by asking for small amounts before slowly ramping up to larger volumes of cash.
In the first stage the grooming stage the scammer may ask for a small gift to test the waters.
Then, they start requesting small amounts of money, which gradually increases.
Many times, a third character is included in the narrative.
Another tactic, used by roughly 12% of romance scammers, is to push the concept of marriage.
This can include over-the-top declarations of love, talk about marriage, and even proposals.
The Psychological Impact of Romance Scams
Romance scams can have a significant psychological impact on victims.
The study included 20 participants, all of whom were affected by the scam.
They suffered feelings of shame, embarrassment, anger, shock, stress, worry, and fear.
Some even reported a feeling of being mentally raped.
Most of the participants were depressed, and some even attempted to take their own lives.
They were also more likely to blame themselves for falling for the scam.
Sharing the experience with friends and family often leads to the reinforcement of the feeling of self-blame.
Who Is Targeted by Romance Scams?
Romance scams can affect anyone of any demographic.
That said, certain groups of people are at a higher risk of a romance scam.
This trend exists within countries like the US and Australia but doesnt appear universally.
For example, in the United Kingdom, younger people are likely to be victims.
These victims are often the target of sextortion instead of long-term romance scams.
Where Are the Criminals Located?
Romance scammers can work effectively from anywhere with an internet connection, including from their mobile phones.
They are:
Where Do Criminals Find Romance Scam Victims?
Australia comes next, with 3,652 reports and $33 million lost.
Canadians lost $5 million to romance scams.
In 2022, the United Kingdom had $38 million in losses and 3,649 reported cases.
25% of those surveyed in France, the US, and New Zealand reported the same.
Japan had the fewest romance scam reports, with only 10% of surveyed participants.
According to the FTC, 40% of victims reported that the scam began through social media websites.
Of those reports, 29% started on Instagram and 28% began on Facebook.
Another 19% report that it began on a dating app such as Tinder.
Understanding Romance Scammers: 4 Case Studies and What We Can Learn From Them
1.
He also used this name to escape Finland after being arrested for multiple counts of fraud.
After escaping the country, Simon approached targets on Tinder while acting as if he were a billionaire.
Hed take the money and use it to fuel his lavish lifestyle.
One woman even sent an entire suitcase full of cash.
This demonstrates the lengths romance scammers are willing to go to deceive their targets.
One day, the criminal confessed their guilt to Deborah.
Eric Cole is likely not an individual but a syndicate of scammers working together to con victims.
While only one of the group confessed their guilt, Deborah is convinced that it was a full team.
Eric connected with Deborah through a dating platform called LDS Planet.
They took advantage of Deborah while she was grieving.
Deborah sent the scammer photos of herself and her family and confided her deepest emotions to him.
She stated it was the only thing that comforted her after her husbands death.
The scamming process started small.
In the end, Deborah lost her entire life savings and even owed the IRS $50,000.
The scammer finally came forth out of guilt, asking for forgiveness before disappearing.
Its a tragic story with no happy ending, demonstrating the importance of watching what you share online.
Afterward, theyd begin asking for money using a broad range of stories.
Out of 179 victims throughout the years, more than 80 were of romance scams.
The duo was sentenced in 2022.
Raquel pleaded guilty to one count of money laundering and is serving a three-year and nine-month sentence.
The couple posed as a well-known celebrity and reached out to the man through a dating app.
After spending several weeks talking, the scammers eventually encouraged their victims to exchange pictures and personal information.
They told the victim that he was being accused of harassment and needed to pay legal fees.
The scam continued, with each new request involving larger requests.
Eventually, the scammers stole their victims entire life savings of roughly $100,000.
After finding out hed been scammed and couldnt be helped, he took his own life in October 2023.
The scammers were arrested and transported to Tennessee to face conviction.
What Are the Most Common Types of Romance Scams?
There is no one romance scam.
Investment scams occur when romance scammers pressure their victims into fake investment opportunities, often involving cryptocurrency.
Scammers pretend to be wealthy individuals looking for love, while also pitching tempting investment opportunities.
In 2023, the IC3 received 39,570 investment scam complaints, resulting in losses of over $4.5 billion.
In military romance scams, fraudsters claim to be military personnel stationed overseas.
They often ask for money to apply for a leave request to meet the person theyre trying to deceive.
She informed him that she sent money to a person using his photos but that he never showed up.
Scammers ask victims for care packages by wiring money through a fake military website that looks official.
Inheritance romance scams involve a fraudster tricking a victim into believing they are an heir to a large inheritance.
The scammers pose as attractive women who befriend the soldiers on Facebook and start a romantic relationship with them.
Their goal is to lure the soldiers into downloading spyware that gives Hamas full access to their smartphones.
Often they pretend that they live near you and will be back soon.
The malware steals the victims personal information, which may lead to identity theft and financial fraud.
Are Romance Scams Outpacing Other Types of Scams?
Romance scams arent the fastest-growing key in of scam, but they are rapidly growing.
Unfortunately, many countries dont keep (or dont reveal) detailed reports about romance scam victims.
However, the trends we see are concerning.
The general consensus among experts is that this trend will continue into the foreseeable future.
In 2020, Canadians lost nearly CAD 28 million in 1,546 reports.
Losses more than doubled in 2021, with the CAFC recording CAD 64.6 million lost in 1,928 reports.
In 2023, romance scams cost 945 victims more than CAD 50 million.
This marks a 6.7% decrease compared to 8,710 reported cases the year before.
The FTCs findings also suggest a correlation between COVID-19 and the increase in romance scam cases.
I Get It, Theyre Dangerous, but How Do I Protect Myself From Romance Scams?
Limiting the sensitive information that you share with strangers is the #1 way to avoid romance scams.
Theyll attempt to force a relationship by appealing to whatever you shared with them.
For example, if you recently lost a child, they may feign also losing a child.
If youre on a dating app, posting that youre single instead of widowed is much safer.
You should limit not only sensitive personal information but also sexual content.
Explicit content gives criminals leverage against you.
Romance scams can occasionally turn into dangerous blackmail situations the moment you share content.
Criminals prey on emotions to lure victims into sending as much money as possible.
As a rule of thumb, never send money to someone you meet online.
Research Potential Dates
This tip comes with a major caveat.
In the past, researching a date was by far the easiest way to verify someones identity.
However, the rapid advancement of AI has made this tip much less reliable.
Scammers prey on peoples trust and goodwill, and they hope you ignore the red flags.
Ultimately, their only goal is to steal your money, and theyll lie about anything to get it.
Anyone can be the victim of a scam.
Romance scammers will trick their victims by using every detail that they can.
you might protect yourself, but it requires constant vigilance.
Research and properly vet people you meet online, and avoid sending personal information to someone you meet online.
Also, consider speaking about this with people close to you in case youre unsure.
Remember that feeling uncomfortable now can save you from financial ruin and even more heartbreak.
