This month and beyond, beware of romance scammers trying to steal your heart AND your money!
If you believe you have been a victim of a romance scam, please call us at (888) 599-2265, chat with us in our Online Banking portal, or visit https://www.identitytheft.gov/ for more information.
How it Works
Romance scammers create fake accounts on social media sites, dating sites, apps, and chat rooms. Starting out innocently with private messages, scammers gather more information about you and your interests, building connection. They quickly establish trust with you and initiate a relationship—but then steal your money or sensitive information. If your guard is down, they may take advantage of you, leaving you as a victim with an empty bank account and a broken heart.
AI’s Impact on Romance Scams
Artificial intelligence (AI) has elevated romance scams to a sophisticated level, adapting in real time to emotional cues and personal data. By analyzing conversations and identifying vulnerabilities, AI can recall key details seamlessly and employ credible storylines. Deepfake videos, voice cloning, chatbots, and generative AI tools can create content that appears hyper-realistic and humanlike.
How can you protect yourself, your finances, and your personal information online? Stay informed and be aware of common warning signs:
Red Flags
- All Text, No Talk—Scammers often stick to texting/emailing and rarely want to video chat or speak on the phone. Scammers often claim they can’t meet in person because they live far away, are deployed overseas, or [insert other excuse]. If they do agree to meeting in person, they won’t follow through.
- Love Bombing—Romance scammers try to establish a relationship quickly and might flatter you with gifts, poems, promises, or even marriage proposals.
- The Bold and Urgent Ask—They might ask for money; a plane ticket to visit you; funds for their visa, medical expenses, or fees to get them out of trouble. Whatever it is, the need for it will be pressing—but the urgency is a distraction dressed as passion, not commitment.
- The Offer—Instead of asking for money, they may offer to “help” you get started in cryptocurrency investing. They might tell you they can’t access their bank account and need you to conduct a transaction for them.
- The Huge Favor—They say they need your personal information because they are opening an account in your name and are making a large deposit for you. They’ll want you to keep the transaction a secret between the two of you and will usually tell you to lie to your financial institution about the reason if they question it.
- The Grift—The scammer will ask you to pay with an untraceable method, such as wiring money, sending a gift card (including the PIN code), sending money through a money transfer app (like Venmo or Zelle), transferring cryptocurrency, or depositing cash into a Bitcoin ATM.
- The Verification Scam—A scammer may suggest that the two of you take your conversation to a “more secure” site that requires a verification code. They send you a link, where you provide personal information and a credit card number, unknowingly, to the scammer.
If You Suspect a Romance Scam
Although falling victim to such scams can be humiliating, just know that it can happen to anyone. Stop communicating with the person, IMMEDIATELY! Block all contact with the scammer on every platform you’ve used to communicate with them. Reporting romance scams to authorities helps raise awareness of new tactics used. Talk to someone you trust—friends, family, your local banker, or the police.
If you’ve already sent money or conducted a transaction on their behalf, contact SCU immediately to be advised on next steps. You may also want to file a complaint with the FBI’s Internet Crime Complaint Center at ic3.gov
For more information on romance scams, please visit any of the following sites:
- https://www.mcafee.com/blogs/privacy-identity-protection/ai-chatbots-are-becoming-romance-scammers-and-1-in-3-people-admit-they-could-fall-for-one/
- https://consumer.ftc.gov/articles/what-know-about-romance-scams
- https://us.norton.com/blog/online-scams/romance-scams
- https://www.consumerfinance.gov/about-us/blog/break-up-with-online-romance-scams/