Published: September 17, 2024 on our newsletter Security Fraud News & Alerts Newsletter.
In our hi-tech world today, finding love online can be challenging. Sadly, romance scams not only break hearts, but they also break bank accounts. Research finds surprising differences between how men and women begin and end up after romance scams. The results might just surprise you.
Barclays monitors their romance scam claims, including how men and women differ. In general, they report 32% of consumers no longer look to love online due to romance scammers, yet these scams are up 139% in one year. They also find 54% of both men and women agree love-search platforms are unsafe. Dating apps make up 35% of romance scam claims, while 44% begin on social media.
Stats Between the Sexes
Men are more likely to fall for romance scams, making up 59% of reported cases.
Women average losing $11,300 to these scams, compared to men at $4,430.
In just one month, women reported a 43% increase in romance scams.
Men are 18% more likely than women to send money to an online relationship, vs 7% of women.
With romance scams stealing money, PII, or both, avoiding scammers can be difficult. Below are cyber-smart tips and red flags for a safer search for love online.
Be careful what you post online. Scammers look for your details to target you better.
Never send money to anyone you’ve never met in person. If the candidate makes plans to meet in person but always has an excuse not to make it, be suspicious.
Research the person and look for their details or images showing up elsewhere online.
Go slowly and ask questions. Pressure tactics are a big red flag.
If you do get scammed, don’t be reluctant to report it since it can happen to the best of us.
Even as the world gets wiser about romance scams, the scammers aren’t slowing down. So, tread carefully and be cyber-smart with online affairs of the heart.
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