“Love Stinks” – When Scammers Intervene

I have blue, red and pink.
One thing is for sure: love stinks.

We’re definitely not one to criticize love on Valentine’s Day, but the J. Geils Band’s ’80s hit “Love Stinks” describes what the FTC’s Consumer Sentinel data sheet tells us is the damage caused by love scammers. One statistic is particularly surprising.

The Consumer Sentinel Data Book categorizes romance scam reports under the larger category of imposter scams. The number of romance scam reports received in 2023, 64,003, was less than the 474,731 reports received about commercial imposters and the 228,282 reports received about government imposters. But reported losses from romance scams totaled $1.14 billion, with a median loss per person of $2,000 — the highest reported losses of all forms of imposter scams. This shows that when romance scammers take their bait on a person, the financial consequences can be devastating.

The Federal Trade Commission offers advice on how to spot and stop romance scams.

• Never send money, cryptocurrency, gift cards, bank or wire transfers, or anything else to anyone you have not met in person. Scammers’ tactics may change over time, but according to a 2022 Consumer Sentinel Network report, 24% of them turn to Tried and true lies They need money because they (or a family member) are sick, injured, or in jail. A good rule of thumb: sad The story is usually scam story.
• Don’t believe the promises of online friends that will increase your savings. A variation of this scheme appears in 18% reported “2022” claims that this netizen made a fortune in “investments” (such as cryptocurrencies) and also wants to show you how to make money. Best advice: When money is mentioned by someone you’ve never met in real life, say no.
• Be skeptical of excuses for not being able to hold real-life meetings. Of course, be cautious before holding a meeting in real life. Meet in a public place, tell a friend or family member where you are going, and give them as much information as you have about the person.But we should also pay attention to some Typical lies of liars about why they cannot Meet you – they were deployed overseas, they were on oil rigs, they went overseas to work and are now being held there against their will, etc. Such excuses indicate that you are talking to a scammer.
• Every photo tells a story. Run a reverse image search on someone’s profile photo or any photo they send you. If the images are associated with other names or the details don’t match, you’re most likely dealing with a scammer who, above all else, has stolen someone’s identity. Do we really need to remind people not to send photos of a personal nature? The FBI warns that scammers may threaten to release the photos or send them to family members in an attempt to extort money.

• Tell a trusted friend that you are chatting with someone online. Some scammers use popular dating apps. Others start with an out-of-the-blue social media post in an attempt to make a connection—for example, “I love traveling too,” or “We’re fans of the same team!” or “You have a great smile.” Genuine people don’t Will mind if you tell people close to you about your relationship. In contrast, romance scammers may try to isolate people by insisting they remain silent. Keep a trusted friend or family member in the loop and watch if they express concerns about your online friend.
• Who is at risk of romance scams? Almost anyone. Romance scammers have no respect for age, occupation, or any other demographic variable. Anyone can be targeted if they use dating apps, or simply have a presence on social media and respond to messages from strangers. Business executives are reminded that even sophisticated people can be deceived by romance scammers. So be alert at all times.

If you suspect a possible romance scam, Report to the Federal Trade Commission. Also notify social networking sites or apps where you know this person. Oh, happy Valentine’s Day.