Thanks to a new survey from the National Retail Federation and Prosper Insights & Analytics, total consumer spending is estimated at $18.2 billion on Valentine’s Day. Valentine’s Day is notorious for being the most popular gift-giving occasion where money is spent on jewelry, chocolates, flowers, etc. An unexpected expenditure around this time of year, however, is due to something else entirely. Romance scams are conducted by skilled charmers who know what to say after warming up to unsuspecting victims and how to fill their pockets.
Romance scammers can be commonly found on dating sites and social media – often sporting a fake profile with stolen pictures. These types of scammers can be charming, fitted with a story to tug at your heart strings. While the story can be moving, it will inevitably end in a request for money to cover costs such as medical bills for themselves or family members, travel expenses or personal debt. It is not unusual for a scammer to build a deep relationship with their victim – sharing personal stories, showering with compliments or even sending pictures.
Often romance scams will include a common trend when it comes to reasons why the scammer can’t meet face to face and requesting money. After combing through romance scams reported to BBB’s ScamTracker, these scamming trends were the most common:
While not every relationship built online can turn to fraud, it is important to protect yourself from a scammer hiding behind a screen. To read more on how romance scams work and how you can spot them, visit bbb.org/romancescam.