Valentine’s Day is a time for love and people use different ways to express their love for someone. While you are busy planning the perfect Valentine’s Day, scammers are busy planning to dupe you using different tricks and techniques. And, with online dating on the rise, romance scams have surged multiple folds, leaving many victims heartbroken and financially drained. So much so that Interpol has warnings about the increasing number of Valentine’s Day and online dating scams. Here’s how to spot and avoid these scams while protecting yourself this love-filled season.
Common dating scams you should know about
Scammers often manipulate victims into sending money through hard-to-trace methods. One common tactic is requesting bank transfers, which are nearly impossible to reverse once completed. Another method involves asking for gift cards, as the funds are untraceable and irreversible. Scammers may also request reloadable debit cards, continuously asking victims to add more money, creating a steady stream of income for the fraudster.
Dating scams workflow
Romance scams aren’t limited to dating apps—they also occur on social media and online gaming platforms. Scammers initiate contact, often with friendly or romantic messages, and build fake relationships. They create believable stories about their lives and jobs to gain trust. Once the connection is established, they manipulate victims into making poor financial decisions, such as investing in fake schemes or sharing personal banking details. Victims often realize they’ve been scammed only when the fraudster disappears.
Stay protected with these steps
Keep your social media private: Adjust your privacy settings on platforms like Facebook and Instagram to ensure only friends can view your posts and personal information. This limits access to strangers who may use your details for scams.
Got an invitation, proceed to caution: Avoid accepting friend requests or messages from people you don’t know. Verify the authenticity of profiles before engaging in online relationships.
Keep security software updated: Regularly update your device’s security software to protect against viruses, phishing scams, and other online threats.
While Valentine’s Day is a time to celebrate love, it’s also a time to stay alert. By recognising the signs of romance scams and taking proactive steps to protect yourself, you can avoid falling victim to these heartless schemes. Remember, if something feels too good to be true, it probably is a scam.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
