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How To Prevent an Online Romance Scam

Recognize the signs to avoid being a target

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The leaves are changing colors, the holidays are approaching, and it’s the perfect time of year to cozy up with that special someone. However, romance scams targeting older adults are on the rise.

With studies showing that Americans 50+ lose the most money on average per scam1, clever scammers are increasingly taking advantage of seniors looking for love or friendship.

A romance scam occurs when someone creates a fake profile, showing false romantic interest in another online user – either through a dating app or website – to create a deceptive sense of love and trust with the intention of scamming the victim out of money.

These types of scams can happen to any gender and potentially be devastating both emotionally and financially, which is why Chase offers a vast array of digital tools, financial resources and safety prevention tips to help recognize and stop a romance scam from happening to you or your loved ones.

Here are four ways to help recognize and prevent a romance scam:

Be suspicious if you haven’t met in person

The romance scammer falls in love fast, probably too fast. One way romance scammers continue to be successful is to heap false affection and endearment only to manipulate a person financially and emotionally. If someone you’re actively messaging online starts to push a serious relationship that feels uncomfortable, be cautious that it may be a romance scam.

Online profiles may not be what they seem

Most scammers often impersonate someone else and will likely never meet with you. In addition to putting “rules” around video calls and in-person meetings, if the person only has one or two images, usually not showing their face or location, be suspicious about sharing any personal information.

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Don’t send money and do your research

There’s no bigger red flag in a romance scam than someone you just “met” online courting you with love and attention, who also directly asks you to help move or send funds. Romance scammers will create any story possible, many times an exaggerated lie that pulls on your emotions. To avoid being scammed, you should never share financial or personal information, buy cryptocurrency or gift cards, write a check, or wire money to someone you recently met online.

Trust your gut

It’s not you, it’s them. A romance scammer may pressure you to stop "being paranoid” and urge you to trust them with anything when your suspicion rises, including your financials. Regardless of how caring the person online may seem, if your gut is telling you something is wrong, it usually is.

Lastly, remember that these scams can, and do, happen to anyone and it’s encouraged to talk with friends and family about these situations for a second opinion. However, if you’ve sent money or fallen victim to a financial romance scam, the best course of action is to contact your financial institution and local authorities as soon as possible, in addition to reporting the scammer to the dating or social media site on which you met.

Click here for additional tips from Chase to help protect yourself from financial abuse.

1Experian - https://www.experian.com/blogs/ask-experian/you-may-be-surprised-whos-getting-scammed-the-most/