The rise of romance fraud
Americans are more connected than ever, thanks to social media and dating apps that allow them to stay in touch with old friends around the world and build new relationships online. But even on these new platforms, many of us report feeling more alone than ever. As Americans grow more and more online in search of meaningful relationships, scammers follow suit. According to the Federal Trade Commission (FTC), nearly 70,000 people reported being victims of romance fraud in 2022.
Romance scams are a form of confidence. Scammers work to gain the trust of the victim, provide misinformation or misrepresentation, and to gain financial benefits by relying on the victim's compassion. These schemes are constantly evolving and becoming more innovative.
All age groups are vulnerable, but older Americans are usually more wealthy and less accustomed to online scams, making them particularly vulnerable and targeted. Protecting older consumers (2022-2023), according to the FTC's protection report for older consumers. The elderly reportedly lost nearly $240 million in romance scams in 2022.
The tactics used by romance con artists evolve over time, but the core tactics are the timeless art of social engineering, which influence people to manipulate and gain trust. People of all ages are vulnerable because seeking trust is humanity. Romance scams mercilessly utilize this human quality.
Romance fraud red flag indicator
If the person you are communicating online shows one of these metrics, you may be the target of a romance scammer.
They insist on living, working, or traveling abroad. Proper grammar, they claim to speak English. I especially claim that he is younger than you. Photos of yourself (mainly fake/AI) traveling, shopping or eating in a gorgeous place. For example, FaceTime). If a video call occurs, you will not be able to see your face clearly. Rerun conversation/text moving to another app (WhatsApp, Telegram, etc.).
They seek money through non-traditional methods such as cryptocurrency and gift cards. Try to distract your attention with you or when you question their intentions.
Finally, if the bank contacts you to express concerns you are being victimized, this is probably the most important red flag you are targeted.
How do scammers request payment?
As romance con artists continue to evolve, so will the methods they use to steal money from victims. In 2022, 60% of all payments sent to romance scammers were made via cryptocurrency or banking wires. Other common payment methods include gift cards (7%) and payment apps (3%). Scammers usually prefer these methods, so they provide some degree of anonymity and cannot reverse the transaction once funds are sent by the victim.
Tips to avoid losing money to romance scams
This can be an unpleasant topic, but make sure you, your family and your friends are familiar with romance scams. The more you know about these scams, the more prepared you are to prevent you from becoming a victim. Scammers are looking for easy targets. Don't be an easy target.
Suspicion of unsolicited calls or text messages. Do not answer calls or texts with unknown numbers. Please do not provide personal information via phone or text. The recognized numbers could be fraudulent due to IP spoofing. If that's important, the person will leave a message or follow up with text. Respond to unknown text messages and block/report them as spam. Banks, companies), respond using contact information you know. Visit the official website for contact information and support information. Scammers use the details shared on social media and dating sites to better understand and target you to form connections and take advantage of what's going on in life. . Please proceed slowly and ask questions. Creating a false sense of urgency is a fundamental tactic in social engineering. Make sure that individuals do not rush you to make decisions. Please note that you will send money, bank account information, personal photos, or other sensitive personal information to someone you have never met in person. Use online search to investigate your personal photos and profiles to see if images, names, or other details are used elsewhere. Scammers often drive conversations to move away from dating and social platforms. Generally, they request text or email. This is to avoid detection controls for dating website chats. If you think an individual is too good, talk to someone you trust about it. Don't send money or cryptocurrency. Do not send money to anyone who communicated only online or over the phone. If you meet someone on a dating site, app, or social media and show them how to invest in Crypto or ask them to send cryptocurrency, it's a scam.
Do you think you were scammed?
Romance con artists are extremely skilled manipulators who utilize our emotions. They often work in organized groups and often use ear-hearted scripts to deceive victims. Anyone, regardless of age, education or intelligence, can fall victim to romance fraud.
If you believe you've become a victim of romance scams:
Immerse yourself in the fraud of romance is not a sign of weakness, but a result of sophisticated manipulative tactics. You are the victim and it's not your fault. Communication with individuals immediately. You trust and explain what's going on. Your profile will be removed to protect other potential victims. Report the incident to local law enforcement agencies. File a fraudulent complaint with the Federal Trade Commission. Check your bank and credit card statements regularly. Report or change account details.
Romance fraud and human trafficking
Unsuspecting Americans are not the only victims of these online fraud scams. In many cases, the perpetrators themselves are victims of human trafficking, forced to work with little salary, little sleep and no freedom to leave.
The global Covid-19 pandemic has left many people financially devastated and craving hope. In many cases, victims respond to online advertising that promises employment abroad with high pay. People with a specific skill set are particularly targeted, such as those with proficiency in English and Chinese. They are then fooled and arrive at a safe compound consisting of “fraud dens” run by cross-border criminal organizations (TCOs). Their passports have been confiscated and working hours forced them to pay off their “debt.” They also face physical and sexual abuse, limited movement, and starvation.
Many of these “fraud dens” are found in countries where corruption in government and law enforcement is prevalent. However, online fraud scams are extremely profitable and this crime model is spreading rapidly all over the world.
How HSI fights romance fraud
Most romance scams occur overseas and are often run by TCOs, pose a critical multijudicial challenge for US law enforcement.
To combat TCO's involvement in romance scams, HSI will partner with other US institutions, including:
US Secret ServiceU.S. Office for Civil Rights and Civil Liberties Investigation Bureau of the Office of Customs and Border Protection Civil Rights Office. Postal Inspection Service Internal Revenue Service Company Futures Trade Commission Federal Trade Commission
To combat the TCO, HSI and its partner agencies are working with the Department of Justice to generate coordinated enforcement and prosecutor efforts. The initiative includes prosecutors, foreign law enforcement partners, and law enforcement agencies working together with the financial industry. This collaboration will lead to more cooperative law enforcement efforts, and ultimately lead to the confusion and dismantling of TCOs that will sacrifice our citizens.
HSIs identify and seize assets derived from romance fraud, disrupt criminal businesses and steal profits. If possible, in cooperation with US law firms and foreign governments, HSI will return the funds to victims of compensation. In many cases, TCOs engage in not only romance scams, but many types of illegal financial crimes.
The HSI will lead the DHS centre to combat human trafficking (CCHT) to combat human trafficking law enforcement operations, protect victims and strengthen prevention efforts. CCHT will work in collaboration with other headquarters components to further strengthen its research efforts and use fraud schemes to identify TCOs, causing individuals to congested traffic for financial gain.
HSI and its partner agencies work to spread awareness of fraudulent employment advertising and online fraud fraud. The Victim Assistance Program provides important resources for HSI investigations and criminal prosecution. We help victims who have fled the “fraud dens,” identify perpetrators, shut down TCOs, and help support victims of human trafficking.
