This Valentine's Day, Protect Your Heart (And Your Wallet) From Online Dating Scams

Valentine's Day is a good opportunity for con artists and hackers to prey on those pouring their hearts out to strangers on social media or dating apps. So, be cautious while communicating with someone online and shield yourself from possible heartbreak.

What Happened: Approximately $40 million was lost to romance scams in 2022 — an 8% increase from 2021, according to the Australian Competition and Consumer Commission, or ACCC.  

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As more and more people rely on social media and mobile dating apps to meet new people, the importance of being cautious while communicating online has never been greater.  

“Scammers are cold-hearted criminals who use unscrupulous tactics to trick their victims into sharing their personal details and emptying their wallets,” stated Catriona Lowe, ACCC deputy Chair.

The report shared a story of an Australian woman who lost $250,000 in a romance scam after being conned by a person who claimed to be a doctor in need of medical equipment. 

Attackers sometimes also use Meta Platforms Inc.‘s META Facebook to send an innocent-looking but malicious link to victims after setting up fake profiles. 

These scams not only lead to extreme heartbreak and financial loss but also take a toll on the victim’s mental health as they feel embarrassed about sharing the incident with anyone, the report stated.  

There are a couple of quick tell-tale signs:

1) The scammer won’t agree to a meet-in-person or come on a video chat.

2) They might profess their love relatively quickly and ask for monetary help, claiming to be in a crisis.

So, watch out for these signs. 

Photo: Courtesy of Pin Adventure Map on Unsplash

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