Online Dating Scams: Protect Your Finances and Heart from Fraud

As online dating sites make it easy to meet new people, they also draw scammers who want to take advantage of people's feelings and money. Many would have been vulnerable to romantic scams since Valentine's Day had just passed. To safeguard your wallet and your heart, it's essential to remain alert and spot the warning indications of fraud.

Understanding Dating Scams

A dating scam occurs when a person fakes being someone different from who they are on dating sites and builds a false identity or narrative. They want to gain your trust and emotional connection in order to leverage it for money gain, presents, or other favours. You end up putting on your money and security without even realizing it as scammers take advantage of your emotions.

Red Flags to Watch Out For:

When someone you just met online frequently asks for gifts, money, or financial help, especially in situations they claim to be emergencies, it's a clear red flag. Another red flag is a lack of transparency. If they don't disclose personal information or if their account seems erratic, they may be pretending someone else.

Also, it may be an indication that something is inappropriate if they frequently fail to respond to video calls or in-person meetings without a valid explanation. Another red flag is when they try to form a strong emotional bond too quickly, it could be a manipulation tactic. When they request private information such as bank account data or passwords, they can be a fraudster.

How to Protect Yourself from Dating Scams?

• Stick to well-known and secure dating sites that prioritize user safety

• Never share your bank account details or credit card information with someone you’ve met online

• Be cautious if someone you haven’t met in person frequently asks for money or gifts

• Check their profile carefully, including photos and personal details, to ensure it’s genuine

• If something feels off or suspicious, stop all communication immediately to protect yourself

What If You Have Been Scammed?

If you've been scammed, immediately report the fake profile to the dating site and cease all communication with the scammer. Contact your bank if you’ve shared financial information and monitor your accounts for unauthorized transactions. You may increase your online security by changing your passwords and turning on two-factor authentication. Keep all documentation related to the scam, and take prompt action it can minimize the damage and prevent further harm.