Fusion Credit Union - Romance Scams

Romance Scams

Not all love is created equal....especially when a romantic interest turns out to be a scammer who is attempting to steal your money!

What is a romance scam?

In a romance scam, a fraudster creates a false identity and pretends to have romantic feelings for the victim, all in an attempt to obtain money. The scammer (usually a convincing one) wants to enter a virtual, online relationship in order to gain the trust and affection of the victim.

How does a romance scam unfold? It looks something like this....

You receive a message from an individual whom you have never met, on a popular social media site (Facebook or Instagram) or an online dating site.
The individual has created a fake profile and usually starts the conversation by complimenting you. While it may be flattering, keep in mind that this fraudster has been monitoring your social media activity for awhile in an attempt to learn everything about you.
The fraudster continues chatting with you several times a day and starts to build a relationship with you in order to gain your trust.
After the relationship has been established, the scammer will ask to continue the conversations on another platform, such as email, phone or another messaging app.
The scammer then makes up a story and asks you to urgently send money. For example, the fraudster could claim that he lives in another country and wants to visit you, but needs you to send money for an airline ticket. Or a relative is very sick and he urgently needs money to pay the medical bills.
The fraudster will even tell you how to pay. Wiring money through Western Union, and Amazon gift cards are some of the more common ways as they make it hard to get money back.

If you're not careful, you could find yourself out thousands of dollars - these frauds are not committed by amateurs and will use any means necessary to convince you they are legitimate.

Scammers often ask their victims for money to pay for:

Plane tickets or other travel expenses
Surgery or other medical expenses for themselves or a loved one
Customs fees to retrieve an item of value
Gambling debts
Visas or other official travel documents

Watch for these red flags and be suspicious:

When someone you haven’t met in person claims love to you
The person wants to quickly move to a private or different mode of communication (email, text, phone, another messaging app).
They always have an excuse not to meet in person, such as traveling for work. For example, they claim they work on an oil rig, the military or as a doctor with an international organization.
You receive poorly/oddly written messages, sometimes even addressing you by the wrong name.
They act distressed or angry to guilt you into sending money.
They discourage you from discussing them or their situation with your friends and family. Their goal is to isolate you from those who may be suspicious of the relationship.

How to protect yourself

Always be suspicious and do your research when a stranger contacts you online.
Try to learn the person's identity online or determine if their photo has been copied from the internet.
While it's nice to find true love quickly, beware of people who try to push the relationship forward quickly. If you're being asked for money, this is a red flag. Don't send any.

If you or someone you know has been victimized by a romance scam, you should:

Stop all communication with the person immediately.
Call your local police and report the crime.
Contact your bank and place a stop payment on any cheques or money transfers.
File a report with the Canadian Anti-Fraud Centre at 1-888-495-8501 or online through its Fraud Reporting System.

Friday | November 22, 03:49 PM