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Romance Scams Cost Consumers $1.14 Billion in 2023: Here’s How to Spot Them

Online dating has become increasingly popular, but it has also ushered in a rise in romance scams. In 2023, consumers lost an estimated $1.14 billion to these scams, with a median loss of $2,000, marking the highest reported losses for any form of imposter scam, according to the Federal Trade Commission (FTC). Understanding the common signs of these scams is crucial for anyone seeking love in the digital age.

How Romance Scams Operate

Romance scams typically involve building an emotional connection with the victim to gain their trust and extract money. As noted by Tracy Kitten, director of fraud and security at Javelin Strategy & Research, scammers often cultivate a relationship that encourages victims to share personal information or send funds.

One prevalent tactic is known as catfishing, where the scammer creates a false online persona, often using stolen images from other individuals. According to Yahoo, these scams frequently begin on online dating platforms but can also originate from unsolicited messages on social media or via SMS, as highlighted by Norton, a cyber safety company.

Recognizing Red Flags

For those navigating the world of online dating, recognizing warning signs is essential. Here are key indicators that someone may be attempting to scam you:

– **Rapid Transition Off Platforms**: Scammers often urge victims to move communication to private channels such as email or text. This is because dating sites can hinder their fraudulent activities, as noted by Reader’s Digest.

– **Unrealistically Perfect Profiles**: If someone appears too compatible or overly affectionate too quickly, it could be a strategy to build trust. Scammers frequently employ flattery and exaggerated declarations of love to create emotional dependence, according to CNBC.

– **Refusal to Video Chat**: Excuses such as a broken camera or poor internet connection can be a signal that the person is hiding their true identity. Equifax emphasizes the importance of insisting on a video call for verification.

– **Claims of Living or Working Abroad**: Many scammers claim to be employed in industries like construction and working on projects overseas. This allows them to fabricate reasons for not meeting in person, making requests for money seem more plausible. The FBI has noted this pattern in their investigations.

– **Regular Cancellations of In-Person Meetings**: If plans to meet are frequently postponed with vague explanations, it is a strong indication that the person is avoiding real-life encounters, warns Equifax.

Protecting Yourself from Scams

Online daters can take several proactive steps to safeguard themselves against potential scams:

– **Request Video Calls**: Video chats are difficult to fake, making them a reliable method to verify a person’s identity. Norton recommends initiating a cam-on discussion early in your interactions.

– **Conduct Research**: Utilizing a reverse image search can help uncover where else a person’s photo might appear online, revealing if it has been stolen. Additionally, verifying the individual’s background, including their age, location, and employment, is essential.

– **Avoid Monetary Transactions**: Never send money to someone you have only met online, regardless of their stories about needing funds for travel or emergencies. Reader’s Digest strongly advises against this practice.

As online dating continues to grow in popularity, awareness of romance scams is more important than ever. By recognizing the signs and taking protective measures, individuals can navigate the digital dating landscape with greater confidence and safety.

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