When you have a new romance there’s so much to talk about. But if your new sweetheart only wants to talk about your money and how you should invest it, stop talking. They might be a romance scammer, like those who stole more than $1 billion from people last year. How do the scams start, and what can you do to avoid one?
Romance scammers use lots of tricks to meet people. They might find you on a dating site, send you a surprise friend request on social media, or start a chat with you on a gaming site. If you answer, they’ll flood you with attention and want to talk every day. But soon, their focus is on money — meaning your money. The love interest — who’s really a scammer — claims they desperately need you to send them money for an emergency, but the reason they give you is a lie. Or they pressure you to invest in cryptocurrency with their help, but they’re really steering you into an investment scam. If you send or invest money, it’s probably gone forever.
Take steps to avoid a romance scammer:
- Be cautious when you get a surprise direct message or friend request on social media. Try to limit who can see your posts and information by setting some restrictions on your privacy settings.
- Don’t send money to an online love interest or anyone who demands payment with cryptocurrency, gift cards, wire transfers, or a payment app. Only scammers tell you to pay those ways.
- Learn the signs of an investment scam, like when someone claims they have a secret method to make money. Visit Investor.gov for more advice on investing and avoiding fraud.
If you think someone is a scammer, cut off contact. Tell the online app or social media platform right away, and then tell the FTC at ReportFraud.ftc.gov.