By Claire Moraa
- At least 337M people all over the world are using dating apps
- As of 2022, romance scams hit a new high of $1.3B with individuals aged 55 to 64 being the most targeted demographic
In our increasingly digital world, the search for love has shifted to online platforms and dating apps. However, this shift has also brought about a rise in crypto romance scams, leaving many individuals not only with a broken heart but also an empty bank account. Boomers are the most affected as the love swindlers go after their pension.
Why This Matters: During the pandemic, the older generation from age 60 upwards reported losing $139M in romance scams. Crypto seems to be the new way to swindle this demographic. The relationship usually starts off innocent and once they develop a certain level of trust, they’re persuaded to invest their money with promises of high returns. If you think about it, they are the perfect prey. They have little to no familiarity in new technology, they have a more trusting nature, have a lot of time on their hands, are lonely and to top it all, they have financial stability.
And while crypto may be redefining the financial landscape, it is not your ordinary traditional investment method. The number of crypto scammers is on the rise largely because not enough information is available on how they work. What’s worse is that even when people are scammed, cases of crypto fraud are grossly underreported. By raising awareness about the prevalence of romance scams, people can make more informed decisions about how they engage with online dating platforms and recognize red flags indicating fraudulent activity. The cost of dating is already high so no need to enter it with dented pockets.
Survival Tactics In Online Love
While there are certainly instances of people engaging in deceptive behavior or financial scams online, it’s important not to paint all online romance with the same brush. Many people find genuine connections and meaningful relationships through online platforms.
However, to keep your account from being cleaned out, try the following:
- Trust your instincts – If it quacks like a duck, it probably is a duck.
- Take it slow – It’s not a marathon, it’s a journey. Take your time to get to know the person you’re talking to.
- Protect your personal information – Be cautious about sharing sensitive personal information until you’ve established trust.
- Research and verify – If there was ever a time to play detective, it’s now.
Situational Awareness: It’s evident that we cannot escape technology. We can only embrace it as it continues to shape the way we connect and form relationships. By familiarizing yourself with the tactics used by scammers and adopting the protective measures outlined in this guide, you can mitigate the risk of falling victim to these heart-wrenching schemes. Remember to exercise caution, trust your instincts, and prioritize your personal and financial security while searching for love in this digital age.
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