Interpol Warns of the Rise in Romance Scams as Valentine’s Day Approaches

According to the Interpol, there is a new investment scam on the rise that is targeting the dating app’s users.

As COVID-19 has restricted our daily lives in many ways, meeting people in person has become impossible and this is the reason the dating apps have seen a spike in the users. This has given a rise to an investment-based scam that is taking the thousands of money out of the victims. Research by Arkose Lab suggests that in 2020, up to four million frauds recorded were from dating apps and most were due to the fake account registrations. 

The International Criminal Police Organization said that they issued a notice that provides all member countries data on criminal groups, their methods, objects, devices they used, and their method of concealment. 

Interpol says that this notice explains the threat of dating apps as, “takes advantage of people’s vulnerabilities as they look for potential matches, and lures them into a sophisticated fraud scheme.”

First scammers try to establish trust, once it is achieved then the scammer will direct the conversation to the investment opportunities while encouraging the victim to participate with them in this financial venture. 

In order to appear legit, the scammers will give the victim tips on their investments and will push them to download a fake trading site and sign up for financial products. 

“As is often the case with such fraud schemes, everything is made to look legitimate. Screenshots are provided, domain names are eerily similar to real websites, and customer service agents pretend to help victims choose the right products,” Interpol said. 

Once the victim has been milked, the scammer will lock the victim out of their investment accounts and disappear by cutting all contacts. They just take advantage of the victim’s feelings and lure them into their bidding.