Why over-60s are warned to remain extra vigilant online this week

The Australian Competition and Consumer Commission (ACCC) is reminding Australians to be on the lookout for romance scams this Valentine’s Day, as data shows these scams are increasingly happening through social media and dating apps rather than the more traditional email method.

Online love scams have become a growing issue around the world, as sophisticated scammers target lonely and vulnerable people and rob them of their savings — all while convincing them they’re in a loving relationship.

According to the ACCC’s Scamwatch, women are particularly at risk to falling victim to romance scams with data showing they are four times more likely to report losing money compared to men.

Australians reported nearly 4,000 cases of romance scams to Scamwatch last year, and paid over $24.6 million to scammers — a 20 per cent increase from 2017. Women reported a total financial loss of almost $20 million while men reported a total loss of almost $5 million. People aged 45 to 64 were the most affected.

Social media is the most common contact method used by scammers, however Scamwatch is seeing increasing reports of romance scammers using mobile apps like Facebook Messenger, Tinder and Viber. Losses reported where the scammer and victim met on an app have increased more than 300 per cent in the past two years.

“Scammers tend to go where people are, and in the dating world that increasingly means on social media and dating apps,” ACCC Deputy Chair Delia Rickard said.

Read more: Romance scam victim reveals red flags to watch for after losing life savings

It’s one of the cruellest deceptions imaginable, and while many people may struggle to understand how someone could be convinced to send money overseas without ever meeting the recipient, more and more people are continuing to fall for these elaborate stings.

“Finding potential new love is exhilarating but that can make it easy to miss the red flags that point to you falling for a scammer,” Rickard said.

“Be careful if someone you don’t know makes contact on social media and presents themselves as a ‘too good to be true’ catch. It’s likely they’ve done some research on you beforehand to find out things about you to create an instant bond.”

Rickard said if you’re having any doubts about someone you met online, doing a quick Google search on their name and pictures can often reveal scammers.

“On apps, it can be trickier as the whole point is meeting new people. However, nearly all romance scammers will eventually reveal their intentions, which is getting your money. If you’ve only ever known the person online or through an app, don’t give them money,” she added.

“You may think you love them and want to help, but they’ll just break your heart, and deplete your bank account.”

The ACCC has warned Aussies not to send money to someone they haven’t met in person, to always consider the possibility that the approach may be a scam, to be alert to things like inconsistencies in their back story and to be cautious when sharing personal pictures or videos.

Have you fallen victim to a scam in the past?