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What Is a Confidence or Romance Scam?
A confidence scam (also known as a confidence trick) is a type of fraud where a scammer builds a relationship with a victim, typically through online platforms, to gain their […]
A confidence scam (also known as a confidence trick) is a type of fraud where a scammer builds a relationship with a victim, typically through online platforms, to gain their trust. Once a relationship is established, the scammer deceives their victim out of money, property or information. The criminals who perpetrate confidence scams generally target vulnerable people, often those who are isolated or elderly. The scam typically starts with a friendly, innocent-seeming message, often through social media, where the scammer pretends to be a caring person in order to engage their victim in conversation. Over the course of weeks, months or even years, after a “secure” relationship is established, the scammer creates a crisis or financial need — such as claiming to be in trouble overseas or needing money for medical expenses — to request funds from the victim.
A romance scam is a type of confidence trick where the scammer begins the fraudulent relationship on a dating site or app. They create counterfeit profiles to lure in victims and build trust through regular conversation. Once a bond is formed, the scammer fabricates a story in order to solicit financial support, then disappears. One major red flag of a romance scam is an unwillingness to engage in video calls or meet in person (which would reveal a false dating profile).
To protect yourself from these types of scams, never give out financial information — whether to “accept a deposit” (another common tactic to gain sensitive banking info) or send money — to anyone you haven’t met in person. The same goes for purchasing gift cards/prepaid credit cards, wiring money, sending cryptocurrency or otherwise sending gifts.
Sources
“Protecting Your Finances: Understanding the Dangers of Confidence Scams”. United States Senate Federal Credit Union. https://www.ussfcu.org/media-center/security-corner/blog-detail-security-corner.html?cId=92003&title=protecting-your-finances-understanding-the-dangers-of-confidence-scams
“What to Know About Romance Scams”. Federal Trade Commission. https://consumer.ftc.gov/articles/what-know-about-romance-scams
