President’s Day Report: Online dating scams

Warning signs and traits of online scammers

About 30% of Americans have tried an online dating service, according to Pew Research Service. Some people have had good luck finding love through online dating. However, others have not been so fortunate, finding only frustration or even harassment. This goes double for victims of online dating scams, who’s ventures into romance have ended in outright fraud.

From 2017-2021, Americans reported losing nearly $1.3 billion in online dating scams. The Federal Trade Commission, says that this may not be the full extent of the damage. Many victims avoid reporting such losses, making this type of crime difficult to keep track of. The Wall Street Journal investigated why some people are vulnerable to this kind of fraud and what can be done to prevent it.

Typically, a perpetrator emphasizes his or her credibility and social status. They will tell their target anything to increase their allure. Often, scammers present themselves as holding some sort of authority. They may pretend to be an influential business person, military personnel, or a research scientist.

To prove that they are who they claim to be, online scammers even use fake IDs. This can be convincing, but research has found that if someone is too quick to share their ID, you should be wary. Moving too fast provide ID that raises the chance that they are a fake.

More successful scammer pace themselves, sinking significant time and effort on the grooming stage. Some victims of online dating scams even received small gifts like flowers before being tricked into losing large sums of money.

Women are reported to lose more significant sums of money than men. In the majority of cases, the victims are older than forty, with ages fifty to fifty-nine being the most vulnerable. Data also suggests that the degree of financial loss increases with the age of the victim.

Categories: Morning Business Report, Tech Report