Adults 50 and older are the fastest-growing population making connections through online dating sites and social media marketing apps. Unfortuitously, also they are the hardest struck by relationship scams. Included in our efforts to improve awareness during nationwide customer Protection Week, we should offer you a snapshot of exactly exactly how this scam works.

Romance Scams 101

You post a dating profile, or more pops a promising match — good-looking, smart, funny, and personable. This potential romantic partner claims to call home an additional the main nation or travels abroad for business or deployment that is military. But he/she seems smitten and desperate to reach know you better and suggests you go your relationship to a channel that is private email or even a chat software.

Over months or months, you grow closer to this person. You create plans to meet up with in individual, but your“love” that is new always something which comes up to dash those plans. Then, you obtain an urgent demand. There’s a crisis (possibly a medical issue or a company crisis), as well as your online friend requires one to wire cash quickly. She or he guarantees to repay it, but that never occurs. Rather, the scammer will keep asking to get more that you’ve been swindled until you finally realize too late.

A Substantial, Growing Problem

The Federal Trade Commission (FTC) received 21,300 reports in 2018 from victims of love scams — a 250% enhance from simply 36 months ago. Economic losses have cost victims $201 million in 2019 – six times the quantity lost in 2015. People 70 years and older had been struck the hardest. These data don’t include people who do not report because of emotions of embarrassment or pity.

Seniors are specifically susceptible they are seeking real companionship in an unreal, virtual world because they might be widowed, divorced or lonely. In addition, victims tend to be maybe not tech savvy and typically try not to get to the scheme until it is too late.

Do’s and Don’ts

Do:

1. Tune in to your gut. It is if it sounds and looks too good to be true.
2. Research your facts. Bing anyone with that you are matching.
3. Alert the dating internet site or manufacturer associated with the software you utilized to generally meet the scammer.

Don’t:

1. Give, lend, or send hardly any money Gram, Western Union, reloadable gift cards or just about any method of giving cash that is virtual.
2. Hand out bank-account access information.
3. Provide ANY information that is personal about you, your household or your friends.
4. Forward any personal pictures. The scammer could later utilize these against you.

Forward this web site post and these guidelines to your loved ones, buddies and network that is online. See our “Sense and Centsibility” weblog for extra great tips on protecting your self from frauds, specially phone frauds.

In the event that you or a family member requires to obtain their funds in an effort — whether or not it had been due to a scam, loss in income or even for every other reason — LSS Financial Counseling will help. Contact us at for the free, private counseling that is financial, or GET GOING ON THE WEB at your convenience.

Author Maria Taylor is A certified financial counselor with LSS Financial Counseling.

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