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A new study expects there to be an unprecedented rise in online romance scams this Valentine’s Day, with scammers preying on lonely and isolated people during the pandemic, according to the Federal Trade Commission.
Americans lost $201 million to romance scams in 2019, more than any other type of scam. Maine had 49 reported victims, though the numbers are likely much higher with many people too embarrassed to come forward.
When the FTC releases the final totals for 2020, they are likely to increase in correlation with surging dating app usage with more Americans turning online for human connection.
Bumble had an 84 percent increase in video calls and Match Group, which owns 60 percent of the market including Tinder, had a subscription increase of 15 percent.
SocialCatfish.com released a study, “Catfishing: A Growing Epidemic During COVID-19,” using the most recent data from the FBI’s Internet Crime Complaint Center. It also includes an exclusive seven-minute video interview with a Nigerian scammer and a 20-page leaked playbook.
The study warns of five tactics scammers are using this Valentine’s Day:
* Cannot Meet Because of COVID: The hallmark of a catfish scammer is to come up with excuses of why they cannot meet, such as pretending to be in the military overseas. The pandemic gives them a built-in excuse not to meet. Be careful.
* Will Not Video Chat: The oldest excuse in the book. They cannot video chat with you because their video camera is supposedly “broken,” or they do not have the best access to wifi. These are red flags.
* They Ask You for Money: Once they form an emotional connection with lonely victims, they ask for money. During COVID-19, scammers have begun saying they are sick and need help with treatment, or are low on food, water, and other supplies.
* Poor Grammar: If the person claims to be American, but has terrible grammar, they may be a scammer.
* Confesses Love Quickly: If you are stuck in your house with limited contact with your loved ones, then someone else’s sweet words can win you over. Scammers no the sooner they win your trust the sooner they can drain your bank account. Beware of someone who is moving too fast.
Five Ways to Avoid Becoming a Victim:
* Never Give Money: Do not give anyone you meet online money, no matter the reason.
* Meet or Video Chat: Do not form a relationship with someone who will not video chat with you or meet you in person.
* Do not Give Personal Information: Scammers can use basic information to commit identity fraud, get access to your banks and steal your money.
* Conduct Thorough Background Checks: Do not take someone’s word for it. Use reverse look-up sites to verify information, images, email addresses, phone numbers and online profiles.
* Take Things Slow: If you like someone online, do not let them rush you. Nigerian romance scammers will be pushy about falling in love right away. If that is the case, know something is not right.
