If you were left lovelorn on Valentine’s Day this year, be careful: con artists might try to take advantage of your vulnerability, with an all-time high of $56 million fleeced through romance scams in 2021.
More than 3400 reports were made to Scamwatch last year on romance and dating scams, including people concerned about family members; while losses were up 44 per cent over the previous year, ACCC Deputy Chair Delia Rickard notes that they may be much higher, as only around 13 per cent of victims file Scamwatch reports.
“It’s important to look out for friends or family members who are using online dating apps and talk about how to spot romance scams.
“Talking about scams, including your own experiences, can help others identify them and may prevent them from falling victim in the future,” she says.
Older women at higher risk
Older Australians are particularly susceptible to these scams, Ms Rickard warns, with people aged 55 and up suffering close to half of the losses last year – around $25 million – and women reporting higher losses than men.
Typical romance scammers will “love bomb” their victims, showering them with affection quickly, before playing on emotional triggers with elaborate stories to ask for money, gifts, or financial information; alternatively, they might bait their victims with a potential romance before tricking them into shady investments, often in cryptocurrency.
“Never send money or give personal or financial information to someone you’ve only met online. Think very carefully about taking investment or financial advice from someone on a dating app.
“Scammers can come up with endless reasons to try and convince you to send money. If you start to feel pressured by your admirer, stop communicating with them.
“Another red flag to look out for is when scammers provide constant excuses as to why they cannot meet in person or use the video function,” Ms Rickard says, adding that searching the internet for the name or photo of your paramour, or some phrases they have used, may help you catch them out.
For more information and to report scams, visit the Scamwatch website.
