Romance
scam, where scammers use the pretext of intimacy and love to trick someone into giving them money directly, are nothing new. Fortunately, efforts by financial institutions and government agencies to raise awareness of these scams have prevented many from falling for them. But this new scam will entice even the most savvy of individuals. It not only instils a false sense of trust and credibility, but also many people’s inexperience with cryptocurrencies, technology, and investment platforms. There is a new breed of romance scam targeting older, lonely and ignorant Americans. Typically, this covert method involves headline-grabbing cryptocurrencies, currency swaps, or other newly launched financial instruments.
HOW THE ROMANCE SCAM WORK
It starts in a typical way: connecting to dating sites or social networking sites. Targeted victims are lured into conversations with “intriguing” individuals with whom they seek to build relationships. Unlike typical love scams, where the victim is asked for money in order to have a fake medical emergency, bail a loved one out of jail, or for emergency travel expenses, the scammers are asking for money to be invested safely. Talk about a “secret method”. generate big profits. Romance scam recovery is done by tracing the account details of the scammer.
TARGETTING THE VICTIM
Scammers convince their targets that this secret investment technique will help them get rich with a small investment. Once convinced, the scammers redirect victims to an online trading platform where they can use the specified account to invest their money in this secret investment. Using an online trading platform adds an air of legitimacy never before seen in romance scams. Through the platform, the investment will inevitably bring a large profit, and the victims will start to trust the scammers and continue to increase their investment contributions through the platform’s account.
FRAUD PREVENTION
Beware of those who get in the way of being your best friend or the best friend of your loved one. These scams work by creating an emotional connection with the victim and trying to isolate the victim. To do. That doesn’t mean everyone is shrugging their shoulders. But be conscious and wise. Discuss with friends and family the unique investment opportunities offered to you. Scammers often advise victims to keep their investments secret as they use the investment gap to generate profits. Don’t let scammers leave you (or your loved ones) alone. Never invest on behalf of yourself or a family member in anything you have not researched or understood yourself.
PROTECTION AGAINST SCAM
One of the reasons this scam is so effective is that there is still a lot of confusion surrounding cryptocurrencies and other types of sophisticated investment vehicles. Find easily verifiable investments with a simple online search. Before withdrawing from a financial institution for investment, please consult a financial professional about the investment. Financial experts can help investigate whether an investment is justified. Beware of online investment accounts shared with you that are intended to demonstrate material investment returns. The online exchange hosting your account may be legitimate, but that doesn’t mean your investment account is legitimate.
TRICKING THE VICTIM
Scammers are well aware of how to “cheat” their victims. Email love poems and sex girlfriend games and build a ‘love relationship’ with lots of promises like ‘I’ll get married someday’. Communication between the scammer and victim is exchanged over a period of time until the scammer feels sufficiently connected to the victim to demand money. Scammers use false perceptions of the victim’s relationship to trick the victim into sending money. Mortgage recovery is possible by capturing the assest for which the loan is given.
These demands may include gas bills, bus or plane tickets to visit the victim, medical bills, or education bills. There is usually a promise that one day the scammer will come to the victim’s home. Victims may be invited to travel to the scammer’s country. In some cases, victims come in seeking monetary gifts for family members or bribes to corrupt officials, only to be beaten, robbed, or killed.
CONCLUSION
Social media can become a major tool for scammers to target victims. Here are some things you can do on social media to avoid falling victim to online dating scams.Keep your social media profile private ,Social media platforms such as Face book and Instagram give you the option to make your profile and posts visible to your friends only. Selecting this setting prevents others from seeing what you post, which helps protect your privacy. Be critical of the invitations you receive. Total Strangers is more than just a romantic scammer, they may be using fake accounts designed to collect information about users for cybercriminal purposes.
