$1.3 billion lost to romance scams in the past five years: FTC

Netflix’s new title, The Tinder Swindler, is a wild ride. 

The show examines how an alleged fraudster impacted the lives of multiple women, matching with them on Tinder and treating them to expensive dates to gain their trust and eventually ask for huge sums of money. 

While you may watch the show and wonder how someone – no matter their gender – could allow themselves to be swindled out of their savings, romance scams are common, breaking hearts and wiping bank balances around the world every day.  

We’ve moved on from the days of ‘lonely hearts’ columns to dating apps — and they are also popular channels to conduct fraud.

Fake profiles, stolen photos and videos, and sob stories from fraudsters pretending to business troubles, their car has broken down, they can’t afford to meet a match, or in The Tinder Swindler’s case, their ‘enemies’ are after them – are all weapons designed to secure interest and sympathy. 

Schemes can also be far more subtle than direct requests for money. In past cases, users have been lured into explicit webcam sessions with a match and then blackmailed, and in others, dating apps and social media networks are used as conduits to

Read More: https://www.zdnet.com/article/1-3-billion-lost-to-romance-scams-in-the-past-five-years-ftc/#ftag=RSSbaffb68