Romance Scams to be Attentive to

February is the month for love, which means it’s prime time for criminals to scour dating platforms and social networking sites for people to rob. Last year, criminals stole more than $600 million from mostly women, the elderly, and people who had recently lost their spouse through “romance scams,” according to the Federal Bureau of Investigation’s Internet Crime Complaint Center. It was a record-breaking amount, according to the Federal Trade Commission (FTC).

Some victims lost everything they had to these charming cons.

“Romance scams are relatively common,” says Andrea Moore, Account Services Manager for Town and Country Bank and Peoples Prosperity Bank. She has had clients who’ve been victims of them in the past. Victims can meet their supposed sweethearts online or through a friend. But “they never meet each other in person. They don’t FaceTime. They often only text and call. When the two are on really good terms, the other person—who is often overseas—asks for money. They say they’re stuck there for some reason without access to money—they’re working but can’t get their paycheck, but they want to come home to you. So, they ask you to send them money so they can buy a plane ticket to finally meet you.”

These fake lovers are great at conning you. They can say they’re working overseas in construction or medicine. They may scour social media for information about you and use it to feign common interests. They use fake photos. They may keep a journal about you. Their endgame is to build a connection and trust so you will send them money.

It’s all about money.

The “boyfriend" or “girlfriend” may ask you to wire him or her funds directly or to put money on a reloadable debit or credit card. This way, “they can get cash quickly, remain anonymous, and the transactions are almost impossible to reverse,” according to the FTC, which has tips on avoiding and dealing with these cons.

They may also ask you to open a checking or savings account for them, giving some reason why they are unable to. What they’re really doing is making you part of their crime, which could be funding drug or human trafficking, according to the FBI.

The bottom line is:

• Never give your bank account information to someone you met online.
• Never send money in any form to someone you haven’t met in person.
• Don’t give out a lot of personal information online.
• If you feel you might be the victim of a romance scam, tell your banker immediately.

“Be open with us,” says Moore. “We can save you a lot of money and heartache.”

For more information, please visit these helpful resources:

• FTC - What you need to know about romance scams
• FBI - Romance scams

Town and Country Bank and Peoples Prosperity Bank is Here to Help!

If you feel like you have fallen victim to any sort of romance scam, please inform us as soon as possible by calling our Customer Service Solution Center at 1 (866) 770-3100.