Romance scams are on the rise due to the loneliness epidemic and scammers’ increasingly sophisticated methods of manipulation.
Romance scams are some of the most powerful forms of fraud, as they target the victim’s affection and trust to gain financial benefits. Scammers use fake identities, and they’re considerably patient with their victims in building up a sustainable relationship. They create intricate plans to attract new victims and maintain long-term relationships with those with the best financial potential.
Unfortunately, the number of romance scams has increased significantly in the past years, reaching a whopping 60% in the UK, leading to about £75m lost in these frauds. Only in 2023 were there 237 reports to Action Fraud related to romance scams, but specialists know the number is much bigger. Considering the stigma around the subject, many people choose to stay silent about being taken advantage of, so they avoid telling even their friends or families.
While companies behind social media apps are making efforts to reduce fraud, a new method of romance scams leverages artificial intelligence, which is more sophisticated and might lead to more victims than ever. Let’s discuss the matter.
What qualifies as a romance scam?
When fraudsters create a fake identity online and pursue romantic relationships with people for personal details or money, they create a sense of urgency that leads to a financial request that the person cannot ignore due to their deep feelings.
According to https://www.romancescamsadvice.org.uk/, scammers build trust over weeks or months so that the victim doesn’t feel used for money. However, after the first request, they continue the exploitation by inflicting guilt or fear and then disappear with no trace.
There are several signs of a possible romance scam that people must be wary of, such as the following:
- Scammers look and sound like the ideal partner for you;
- They use the love bombing method to create emotional dependence;
- They avoid real contact and communicate only through texts;
- They make up urgent financial crises when asking for money;
- They lie about their identity and provide very little information about themselves;
What are AI-powered romance scams?
If regular romance scams weren’t enough, artificial intelligence can now make things more complicated, both socially and legally. For example, scammers use AI tools to make their messages more convincing and personalise them according to each victim for better results. If scammers would have been recognisable before by their poor grammar skills, now they can simply refine these messages, making them more difficult to identify.
Moreover, the use of AI allows scammers to broaden their approach and target victims from different countries, thus expanding revenue. Generating images is now easier than ever, so fraudsters can try to prove their identity by creating different images with their fake identities that look pretty real.
The rise of romance baiting
Romance baiting is a special kind of scam (also known as pig butchering), as it involves scammers making victims invest in fake cryptocurrencies or stock platforms. Fraudsters usually start chatting on regular apps and then move the conversation to an encrypted chat site where it’s easier to make investments.
Initially, victims will transfer a small amount of money to the scammer to prove how efficient investing is.
However, in time, they’ll be pursued into upping their accounts for more profit until they run out of money, at which point the scammer disappears.
Crypto romance scams are difficult to track and manage, especially since scammers focus on fake trading activities based on token arbitrage, micro-trading, and Initial Coin Offerings.
Why do people fall for romance scams so easily?
Some people seem to fall in love quite easily and fast with their scammers, even if they haven’t met in person. The use of social media has made it more convenient for people to meet and get to know each other, which has made real dates not quite necessary for developing deep feelings for each other.
Victims who fall easily are usually easily intimidated, hold respect for authority, and are more likely to be gullible. At the same time, those who idealise their romantic partners are prone to scams, and the scammer might know about many other characteristics of a victim.
The increasing rate of romance scams might also be determined by the known epidemic of loneliness, which exploded during the pandemic and had unprecedented effects on society, especially on aging adults. Most are spending more time at home now than before the pandemic and are overall less interested in getting outside to socialise or attend events.
How can people protect themselves from romance scammers?
There’s nothing wrong with seeking human connection online, but people must learn to identify fraudsters to avoid being taken for granted. Users must research the signs of a scammer and take a step behind when someone they’ve been talking to starts showing these signs.
When talking to someone online and you doubt their identity, it’s best to take the conversation easy and ask a lot of questions about themselves. If they provide short answers or are dodging the questions, it might be a sign of fraud. Another red flag to be wary of is if the individual starts to isolate you from family and friends sometime after getting to know each other. That’s because people usually share who they’re talking with with friends and family, but if they’re alone, they’re more susceptible to being easily manipulated.
Finally, regardless of the reason, if the person wants to meet but cannot or comes up with excuses when planning a date, that’s a sure sign that they don’t want to disclose their identity. In this case, it’s best to cut it out and protect your peace.
Have you been a victim of a romance scam?
Romance scams are on the rise due to the loneliness epidemic and scammers’ increasingly sophisticated methods of manipulation. Scammers make considerable efforts for weeks and even months to gain a person’s trust and make them send money. Now, they’re even using AI to make those fake identities as believable as possible, which can confuse users into recognising who’s real and who’s a fraud.
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