Latest Warning From Scamwatch Regarding Romance Scams

Scams
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The latest warning from Scamwatch regarding romance scams.

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An article regarding US victims of romance scams.

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I take your point on the effect these scams have on people internationally. I just wish we had more Australian affected victim reporting to this type of issue particularly by organisations such as 9news. I know they do report on it but it must be a slow news day here if they have to resort to posting about how it worries them in the USA without some decent reference in the story about how the same scams are hurting us here, ie make it more relevant to us here so we can easily see the comparison. They could post stats for here vs USA, EU etc, they could directly link to Scamwatch reports, they could flesh it out with reports about victims of similar scams here, they could link to how to report the scams here, what scams are currently prevalent here in this area of concern…there is just so much more they could enhance it with.

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Agree. The more the message gets out about these scams, hopefully the less number of people that will be defrauded of their monies. The less people defrauded, the less lucrative it is for scammers to chance victims in Australia.

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Younger people falling for online romance scams new investment scam

A new investment scam, dubbed “romance baiting”, targeting mainly under 35-year-olds, is making the rounds on dating apps. The ACCC’s Scamwatch received 400 complaints with total losses to victims of more than $15 million last year, most of those in cryptocurrency.

It works like this. Scammers meet their victims on dating apps and ask them to move their conversation to an encrypted chat site. They then use techniques such as “love bombing” – contacting someone several times a day, professing their love – to develop a relationship with the victim, before going on to suggest “investment opportunities”.

They usually ask the victim to pay a small amount at first and then ask them to top it up. Once the victim runs out of funds or stops giving, they disappear. If you’re targeted by a romance baiter, here’s how you can protect yourself:

  • Stop communicating with whoever is pressuring you.

  • Do an internet search with their name, photo or phrases they use to find out if it’s a known scam.

  • If you find you have been scammed, contact your bank as soon as you can.

  • Report what happened to the dating app and the platform you used to communicate with the scammer.

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Another article warning regarding romance scams.