Important Alert: Scammers Impersonating Banks. Read More.
Important Alert: Scammers Impersonating Banks. Read More.
Important Alert: Scammers Impersonating Banks. Read More.
According to a report by Statista, an estimated 440 million people will use online dating apps by 2027. While many people use dating apps and websites to find love, others use it to exploit others for financial gain.
The first two blogs in the elderly financial exploitation fraud spotlight series addressed the “grandparent” scam and the lottery and sweepstakes scam. Now, let’s look at the romance scam.
You receive a message on a dating app from someone claiming to be a long-lost friend. She doesn’t have many pictures on her account and continues to find reasons to avoid meeting up in person. She messages you consistently and has made declarations of love. After a few months, she says she needs some money to pay for emergency medical bills. Instead of sending over the money, look at the warning signs within the situation.
Everyone wants to be loved. Unfortunately, criminals have found ways to target the elderly population by manipulating this need. Malicious actors create fake accounts pretending to be a romantic interest or a long-lost friend. They target lonely members of the older population looking for love and companionship by messaging regularly to build trust. Once the relational foundation is established, the scammer will use the illusion of a romantic relationship to manipulate or steal from the victim.
The first step in protecting yourself is becoming educated. Romance scams typically involve a fast-moving relationship, careful avoidance of in-person meetings, and a request for money.
In addition to knowing the warning signs of a romance scam, you should also practice safe habits online. Be cautious of what you share on social media because con artists can use that information to better target you. Adjust your account’s privacy settings and avoid posting personal information.
If you believe you or someone you know has fallen victim to elder fraud, contact your local law enforcement or branch of the National Adult Protective Services Association. You may also file a report with the FBI. If you have given out account information or personal financial information, contact your banker immediately.
One way these criminals continue to find success in these schemes is by the lack of reporting. While it may feel embarrassing to admit that you have been scammed, reporting the fraud may help track down the criminal or make others more aware of the fraud tactics.
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Equal Housing Lender.
© 2025 West Bank. All Rights Reserved.
Member FDIC.
Equal Housing Lender.