Romance Scams
What are they?
Romance scams can be very cruel.
They play on people’s emotions and vulnerabilities. In 2020, romance scams in the USA reached a record $304 million in reported losses, according to Federal Trade Commission data. This marked a roughly 50% increase from 2019, with a median individual loss of $2,500. Older adults (60+) were heavily targeted, losing approximately $139 million that year.
What’s a romance scam?
A romance scammer will build up trust by developing a convincing relationship with you, usually online. You may meet them on a dating site or on social media where they’ll be lurking behind an apparently genuine profile. Once the scammer has gained your trust, they’ll start asking you to send money, vouchers or gifts. Scammers are becoming increasingly sophisticated and will even find ways to get your personal details or passwords to access your bank account. They’ll invent reasons for needing money such as health issues, business issues or any other troubles they desperately need money to fix.
How can I protect myself from romance scams?
A Story
Romance scammers usually have a story that justifies why they’re asking for money. Question whether this story makes sense, and never send money to someone you haven’t met face to face.
Image search
Reverse image search the photo of the person you’re speaking to. Scammers will often steal these from legitimate profiles on the internet.
Don't reveal too much
Don’t reveal too much information about yourself online, especially on social media.
Talk to people
Talk to people you trust for advice about the relationship to get their view.
I think I've lost money to a romance scam. Can I get my money back?
If you have lost money to APP fraud from your crypto account, We could help you get your money back from your crypto company or bank and you can fill in our fraud refund claim form for a free consultation.
Customers often ask if they can get money back if they paid by Crypto transfer, or if they can get money back if they pay by BACS. The answer is yes, victims of scams may be able to get their funds when they paid by either of these methods.