It’s mid-February once again. Love is in the air, and romantic messages may fill your inbox. However, amidst all that attention, it's crucial to be vigilant. The person behind those sweet text messages that make you feel warm inside may be a romantic scammer.

FBI experts warn that this Valentine’s Day, online scammers may target you on dating apps, websites, and instant messaging platforms.  Their primary goal is to steal your sensitive data and defraud you.

Valentine's Day marks the peak season for online romance scams, a deceptive practice that has led to staggering losses. According to recent statistics, Valentine's Day scams in 2022 reached a staggering $1.3 billion.

Sweetheart Swindlers

Valentine's Day scams often start with seemingly innocent messages through social media, emails, or text messages.

The scammer pretends to be someone they are not and dupes the victim into falling in love with them.  As time goes by, the scammer manipulates the victim in a similar fashion to the Tinder Swindler. They eventually try to extract money from them.

Online love scammers typically ask for money to escape an emergency or facilitate their travel for a face-to-face meeting with you.  But once they receive the money, they disappear. Valentine’s Day scammers leave their victims in deep emotional and financial distress.

Romantic Impersonators

Romance scams are on the rise as more people choose to meet and connect online. Last year alone, 70% of people who met online said that it led to a romantic relationship. Currently, the number of dating sites and apps around the world is over 3000. The online dating market revenue is projected to reach $9.2 billion in 2025.

With AI on the rise, scammers have become more aggressive. They are now using sophisticated approaches, including deep fakes.  A deep fake is a video created with AI in which a person is made to appear as someone else.  20% of online love-seekers say that their perfect match turned out to be a bot.

The emergence of cryptocurrency has further complicated matters. Its characteristics of anonymity and difficulty in tracing transactions make it an attractive option for Valentine's Day scammers.

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Crypto Con Artists

There is a growing trend of scammers leveraging cryptocurrency. A few romance scammers may ask for direct transfers, but an increasing number of cybercriminals are engaging in cryptocurrency investment schemes.

These scammers pose as knowledgeable investors. Aside from the promise of love, they entice their targets with promises of significant returns on crypto investments. The victims fall prey to these schemes, unaware that they are being deceived.

Online Love Scams Prevention Tips

These online scams may sound discouraging to love-seekers. But there are practical steps individuals can take to protect themselves. As with many online scams, taking a moment to think critically before responding can often prevent falling victim to deception.

Here are some essential tips to avoid falling prey to romance scams:

Be skeptical

Be cautious whenever you receive unsolicited emails, texts, or social media messages. If someone claims to be overseas or avoids in-person meetings, consider it a red flag.

Stick to trusted dating apps

The best dating apps have measures in place to identify and prevent scams. Be cautious if someone suggests moving communication to an external messaging app.

Never send money to strangers

Avoid sending money to individuals you have not met in person. Scammers often create captivating stories to evoke sympathy and financial support.

Protect your personal information

Don’t share your sensitive information. Never share your Social Security numbers. Decline requests for explicit photos because cases of "sextortion" are on the rise.

Do your homework

Research the background of individuals using dating apps and conduct a reverse image search to ensure their authenticity.

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Beware of investment schemes

Be wary of investment opportunities that appear too good to be true, especially those involving cryptocurrency. Avoid sending money or crypto to online acquaintances, even if promised substantial returns.

Prioritize cybersecurity

Implement strong passwords, enable two-factor authentication, and keep your apps up to date to enhance overall online safety.

With these safety tips, individuals can navigate online romance more safely and celebrate Valentine's Day without falling prey to deception. Remember, a cautious heart is a protected heart.

Romantic Scammer

Someone who tricks people by pretending to be in love to get money.

Aggressive

Acting in a forceful or strong way, often to intimidate others.

Entice

To attract or persuade someone by offering something interesting or tempting.

Cryptocurrency

Digital money that uses secure technology for transactions and isn't controlled by a government or bank.