While February means love is in the air for some, it is all prime season for romance scams. Romance scams are schemes in which fraudsters exploit emotional connections to steal money or personal information. Sadly, many fraudsters have become highly adept at quickly and convincingly creating a fabricated bond between themselves and their victim. Here are several common romance scams and tips on how to protect against them:

  1. Catfishing

How it works: Scammers create fake online profiles using stolen photos and fabricated information to build trust and form romantic relationships. They may eventually request money for emergencies, travel, or other faked needs.

Protection Tips:

  • Verify their identity using reverse image searches on their profile pictures.
  • Be cautious if they avoid video calls or in-person meetings.
  • Never send money to someone you haven’t met in person.
  1. Military Romance Scams

How it works: Scammers impersonate military personnel, claiming to be stationed abroad and in need of financial assistance for expenses like leave applications or transportation.

Protection Tips:

  • Verify military credentials through official channels, such as Military.com.
  • Understand that military personnel have access to financial support and don’t need to pay for leave or transportation.
  • Be skeptical of requests for funds or untraceable payments like gift cards or wire transfers.
  1. Investment Schemes (“Pig Butchering”)

How it works: The scammer builds a romantic relationship, then persuades the victim to invest in fake business opportunities or cryptocurrency platforms. These “investments” are often fraudulent.

Protection Tips:

  • Avoid mixing romance with financial dealings.
  • Research any investment opportunities independently.
  • Be cautious of platforms requiring payment in cryptocurrency.
  1. Fake Emergency Requests

How it works: The scammer claims to face a sudden emergency, such as medical issues, legal troubles, or stolen belongings, and requests financial help.

Protection Tips:

  • Ask for proof of the emergency situation.
  • Avoid transferring money, especially to unfamiliar accounts or locations.
  • Consult with a trusted friend or family member before taking action.
  1. Long-Distance Travel Scams

How it works: Scammers claim they want to meet in person but need financial assistance for travel expenses, visas, or other arrangements. After receiving the money, they disappear.

Protection Tips:

  • Insist on meeting in neutral, public places at your own expense.
  • Don’t send money for travel to someone you haven’t met in person.
  • Be wary of excuses for why they can’t meet despite receiving funds.
  1. Inheritance Scams

How it works: The scammer claims they have inherited a large sum of money but need help accessing it. They might request financial assistance or personal information, promising to share the inheritance.

Protection Tips:

  • Be wary of people discussing inheritances early in a relationship.
  • Avoid sharing your financial or personal details.
  • Recognize that legitimate inheritances don’t require outside financial contributions.
  1. Immigration Scams

How it works: The scammer pretends to be in love and quickly proposes marriage, often with the hidden intent of securing a visa, residency, or citizenship in another country.

Protection Tips:

  • Be cautious of relationships that progress unusually fast.
  • Investigate their background and motives before making significant commitments.
  • Seek advice from a legal professional if immigration is part of the relationship plan.

General Tips to Avoid Romance Scams:

  1. Trust Your Instincts: If something feels off, proceed with caution.
  2. Take It Slow: Scammers often rush relationships to exploit trust.
  3. Protect Your Privacy: Avoid sharing personal or financial information too soon.
  4. Watch for Red Flags: Stories that seem too good to be true, refusal to meet, or repeated requests for money are all warning signs.
  5. Report Suspicious Activity: If you suspect a romance scam, report it to local authorities, the FTC, or platforms like the FBI’s Internet Crime Complaint Center.

By staying vigilant and following these precautions, you can further insulate yourself from falling victim to romance scams. Visit ICW Group’s website for more information on how ICW Group can help protect you from bogus claims.