Catfish Casanovas Prey on More Romance Scam Victims

Online romance scams happen all year round, but with Valentine’s Day less than a week away, even the smartest people looking for love could get swept up into the digital arms of today’s modern Don Juan and gold-digging opportunists.

A study by Scottish TSB Bank, and reports from the FBI, the FTC and others, are warning people that romance scams — also known as confidence fraud — are on the rise. And victims are losing a lot more than pride and dignity — they’re losing thousands of dollars, sometimes even their entire savings.

Romance fraud losses surged by 91% during COVID-19, TSB data shows, with the average victim getting swindled out of an estimated $8,300. The fake romances lasted an average of 62 days, with the longest one going on for almost three years.

See also: FTC Warns Social Media Users About Advertising Scams

Victims often get hoodwinked by sending money from their bank accounts, usually after hearing their online girlfriend or boyfriend spin a convincing tale of woe that tugs on the heartstrings.

In 32% of cases, victims send money for a little over two weeks before becoming suspicious a scam was in play. Some 27% of victims sent payments for more than a month, and 11% kept the money flowing for more than six months.

Women fell for fake online romances more than men, with 66% sending an estimated $8,500 on average. Men who were lured into fraudster romances sent an average of $6,200.

Read more: The Cost Of Love: FTC Data Shows Over $200M Lost To Romance Scams In 2019

Facebook was the source for 35% of fraudster romances, followed by Tinder (24%), Plenty of Fish (21%) and Match.com (9%), according to TSB report.

The FBI warns people looking for love online to follow several safety tips on its website, with some of the major advice being to never send money to someone you don’t know, and beware if a person always makes excuses when it’s time to meet in person, but still asks for money or other favors from you.