With the evolution of technology, cyber scams take on new forms and use the tools available - such as cryptocurrencies, social networks and even dating apps. As Valentine's Day approaches, it's important to pay extra attention to the famous "love scams".
These cyber attacks that exploit the building of a romantic relationship with the victim are increasingly common around the world. According to data from the US Federal Bureau of Investigation (FBI), online romance scams resulted in losses of more than 133.4 million dollars between January and July 2021 alone.
But how can you avoid these cyber scams on Valentine's Day? Check them out below!
The danger of love scams
At the beginning of 2022, the documentary "The Tinder Scammer"hitthe headlines and caused a stir among the public when it came to love scams. The production presents a very elaborate case in which the scammer adopts a false identity to win the victim's affection and trust - always with the aim of obtaining financial advantages. It is difficult to confirm the exact amounts, but it is known that one of the women gave the scammer a total of 200,000 dollars (more than a million reais).
However, this scam is more common than you might think. The intention of the scammer is to establish a relationship as quickly as possible, to please the victim and gain their trust. Scammers may propose marriage and make plans to meet in person, but this will never happen. After all, the scammers' aim is to use the illusion of a romantic relationship to manipulate and/or steal from the victim, using their personal data and credit cards.
In 2021, the IC3 (Internet Crime Complaint Center) received reports from 24,299 victims who suffered more than $956 million in losses from love scams. This type of fraud represents the third largest loss reported by victims.
The main pitfalls to watch out for
The logic of online love scams is always the same: the hacker will deceive the victim with a fake love interest. However, the implications of this can take many forms, all of which involve virtual extortion, especially on dating apps.
Here are the main scams that deserve your attention:
Sextortion
Sextortion is the name given to extortion related to sexual matters. It occurs when someone threatens to distribute private and sensitive content if their demands are not met. In 2021, IC3 received more than 18,000 complaints related to sextortion, with losses of more than US$13.6 million.
Generally, scammers create fake profiles using photos of other people on social networks and/or dating apps. They then build up a relationship in order to obtain private images and, from there, begin the extortion.
The hacker often sends an e-mail saying that he has an intimate photo of the victim and promises to disclose it if the victim doesn't pay a sum of money. In fact, our ISH cybersecurity expert recently gave advice on how to proceed in such cases.
Cryptoromantics: Bitcoin scam in dating apps
Many victims of romance scams report being pressured into investment opportunities, especially using cryptocurrencies. As well as stealing your heart, they can also steal your money. In 2021, IC3 received more than 4,325 complaints, with losses exceeding US$429 million, from fraud victims who also reported using cryptocurrency investments.
Speaking specifically of dating apps, the criminal pretends to be in love and convinces the investor to download an app or click on a fake link - both of which capture their personal data.
After creating a relationship of trust with the victim, the scammers claim to know about great investment opportunities in bitcoin - encouraging payments to be made in order to steal the money.
The practice has attracted the attention of countries around the world, which has given these criminals a name: "CryptoRoms", which could be translated as "cryptoromantics".
Catfishing: a trap to steal personal data
In catfishing scams, the scammer pretends to be someone else in order to trick victims into obtaining financial advantages. To do this, fake profiles are often created using photos of attractive people. Recently, a famous volleyball player in Italy fell for the scam. The scam cost him a lot of money, transferred over the years to fraudsters who had a long-standing virtual relationship with the victim.
Don't think that this is a difficult situation to be in. In 2021, Interpol sent a warning about dating app scams to Brazil and all the other 193 member countries of the global surveillance agency. The scam, according to research firm Arkose Labs, has already fooled more than 4 million victims in 2020 alone.
Once a relationship has been built, the scammer can use different appeals to ask victims for money - such as illness, threats to their life, financial difficulties, among other situations that create a sense of urgency.
Fake date scam
Finally, cyber scams can also have implications outside the networks. In the fake date scam, gangs are using dating apps, creating fake profiles to arrange face-to-face meetings with potential victims. When they arrive at the agreed location, the person has their belongings stolen and is kidnapped by criminals.
In addition, these fake encounters are yet another form of crime that takes advantage of technology following the emergence of bank transfers via Pix. In the act, criminals force victims to provide bank passwords, make transfers via Pix and ask for loans to be released to the victim.
8 tips to avoid cyber scams on Valentine's Day
As Valentine's Day approaches, cyber scams exploiting fake relationships tend to increase. To avoid the risks, follow these tips:
- Be careful with everything you post on the internet - especially on social networks. Scammers can collect this information and use it to try to get close to you. Social networking sites and apps can also serve as a gateway to serious crimes that put the privacy of your information at risk.
- Do some research on the people you meet online. With their name, picture and other personal information, you can find out if you're not dealing with a fake profile.
- Take your time with online relationships and ask strategic questions to get to know the other person better. Avoid exposing your intimacy.
- Be suspicious if the other person shies away from personal meetings. If after several months you still haven't managed to meet them in person, there are good reasons to be suspicious. However, if the crush wants to meet up, make appointments in busy places and let friends know where you're going, if possible by sharing the location on your cell phone.
- During a blind date, avoid leaving a cell phone with access to accounts at home and go out with another device.
- Be wary if the person you are chatting with asks for intimate photos or inappropriate personal information. If you identify an inappropriate profile, you should report it through the dating app itself.
- Be especially careful if the other person seems too perfect or quickly asks you to leave the dating app to communicate directly. It's important to be wary of very personal questions at the start of a conversation and if the other person refuses to talk on video calls, for example.
- Never send money or financial information to a person you have only communicated with online and/or by phone.
So, did you like the tips? Match more safely and avoid cyber scams on Valentine's Day. In finance, as in love, turning a blind eye can be very costly.