Philippine-based scammers are using fake online profiles and cryptocurrency to target Australians in a new love scam scheme. Authorities warn of the dangers of online romance scams and advise on how to protect yourself from becoming a victim.
Heart season is upon us, and so are scams. In time for Valentine's Day, the Presidential Anti-Organized Crime Commission (PAOCC), National Bureau of Investigation (NBI), and the Australian Federal Police issued a warning about a love scam scheme that involves cryptocurrency. Cryptocurrency, often referred to as the 'money of the internet,' is a digitally native asset class that's evolving based on its use and utility.
However, unlike traditional currencies like the dollar or peso, it is not government-sanctioned. A love scam is a form of crime where scammers typically create fake online profiles to lure victims into sending them money. Local and Australian authorities uncovered this scheme after a recent operation targeting a scam compound that preyed on thousands of Australians using online dating applications. Similar to past love scams, Philippine-based scammers used fabricated backstories and affectionate language to ensnare their targets. In this particular case, the scammer posed as a Filipina heartbroken by her ex-fiancé, claiming he only wanted her money, not love. They would then introduce cryptocurrency into the conversation, creating the illusion of a successful financial venture that brought them significant wealth. The scammer would then offer to teach the victim how to invest between $300 and $800 in cryptocurrency, requesting they transfer funds from a legitimate cryptocurrency exchange platform to the scammer's online crypto account. Love scams fall under the category of swindling or estafa in the Philippines, representing the largest number of cybercrime cases recorded by the Philippine National Police (PNP) in February 2024. Authorities revealed that the now-banned Philippine offshore gaming operators (POGO) were also involved in love scams. One notable incident occurred in October 2024 in a building adjacent to the World Trade Center in Pasay City. To avoid becoming a victim of love scams, authorities advise taking the following precautions: Avoid getting too close to people you meet online, whether through social media platforms like Facebook and X, or dating applications. Be wary of inconsistent details about their lives or refusal to engage in video calls or in-person meetings. If you're interested in someone, take your time to get to know them properly before investing your trust. Be cautious if someone professes love too quickly. Never send money, either through online banking or cryptocurrency, to people you've only met online. Exercise skepticism towards requests for money. Avoid sharing personal and private information, including photos and videos, as these can be used for blackmail or identity theft. If you suspect you've been scammed, take the following steps: Before blocking the scammer, preserve all evidence and transaction records. Take screenshots of transactions and the scammer's fake profile. If you were connected through social media, report the scammer's profile and activity. Immediately report the incident to authorities like the PNP Anti-Cybercrime Group or the NBI Anti-Cybercrime Division
Lovescam Cryptocurrency Cybersecurity Online Dating Romance Scam
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
167 Filipinos, 2 Chinese arrested in love scam hub using AILatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Mang Inasal launches 'Love the Flavors, Love the Philippines' campaign at Sinulog FestivalMANG Inasal and the Department of Tourism launched the 'Love the Flavors, Love the Philippines' campaign at the 2025 Sinulog Festival in Cebu City, a vibrant celebration honoring the Sto. Niño.
Read more »
Mang Inasal Spices Up Iloilo's Dinagyang Festival with 'Love the Flavors, Love the Philippines' CampaignMang Inasal partnered with the Department of Tourism to make Iloilo's Dinagyang Festival 2025 even more flavorful with a weeklong 'Love the Flavors, Love the Philippines' campaign. From January 20 to 26, Mang Inasal stores in Iloilo offered free Coke with every order of Solo Fiesta and Extra Creamy Halo-Halo. They also hosted a 'Love the Flavors, Love the Philippines' Caravan at SM City Iloilo, providing free Extra Creamy Halo-Halo to attendees. Mang Inasal actively supported the festival by sponsoring the Dinagyang Grand Parade and Dinagyang Tribes Dance Competition, awarding a P10,000 Mang Inasal gift certificate to the winning tribe, Tribu Paghidaet of La Paz National High School.
Read more »
Australians biggest threat to Gilas Asia Cup campaignSAMAHANG Basketbol ng Pilipinas (SBP) President Al Panlilio hopes that the national team won’t play powerhouse Australia in the preliminary and knockout stages of the International Basketball Federation (FIBA) Asia Cup set August 5 to 17 in Jeddah, Saudi Arabia.
Read more »
Scam farms: Southeast Asia's digital malaiseScam farms: Southeast Asia's digital malaise
Read more »
Thailand Cuts Electricity to Myanmar to Fight Online ScamsThailand has halted electricity supplies to five locations in Myanmar to combat a surge in online scam operations targeting Chinese citizens. The move, authorized by the National Security Council, aims to disrupt the operations of criminal gangs running these scam centers in Myanmar's border regions. Thailand earns approximately 50 million baht ($1.5 million) monthly from electricity sales to these locations. The decision follows concerns from China about the growing number of scam centers and their impact on Chinese tourists.
Read more »