According to the Federal Trade Commission (FTC), around 70,000 individuals fell prey to romance scams in 2022, losing over $1.3 billion combined in total. The median loss per victim was reportedly $4,400. Many of these romance scams were conducted using sexually explicit images obtained from victims through extortion.
What are romance scams?
Romance scamming involves a perpetrator creating a fake online persona and forming relationships with unsuspecting targets who eventually trust them. Then, they ask their targets to loan them money or offer personal information that can allow the scammers access to the victim’s bank accounts and other financial affairs.
Who is being targeted by sextortion-based romance scams?
The data from FTC reveals that individuals aged between 18 and 29 years are six times more likely than older consumers to report falling for this type of scam. Sextortion scams occur when attackers persuade targets to send intimate photos or videos, threatening to share them on social media unless the victim pays up.
Other popular romance scam methods
Sextortion-based attacks, although prevalent today, are only one of several techniques attackers use. Young people and older adults alike should beware if someone asks for monetary support while claiming military service abroad, hospitalization of themselves or a close relative or business investments.
Preventing Romance Scams
To protect oneself from romance scammers:
- Beware professions that seem too good to be true:Maintain caution against perpetrators who purport high-ranking positions in government organizations, international corporations or armed forces—these could all be fake personas;
- Avoid third-party conversations:If someone insists on moving your conversations out of public platforms like Instagram DMs and into private messaging apps such as Telegram;
- No financial support before meeting:Do not part with any cash before establishing trust and verifying their identity;
- No personal details shared without knowing intentions first:It could be dangerous to hand over sensitive personal information until trust has been established;
If you think you’ve fallen prey what should you do?
- Contact the appropriate authorities right away if scammed;
- Contact your bank if payments were made through banking channels;
- If gift cards were used as payment options keep receipts safe and inform relevant verification centers;
In conclusion romance fraudsters are becoming increasingly sophisticated so it’s important to remember always to maintain vigilance against anything which seems suspicious even when involved romantically.