This Valentine’s Day, the Ontario Provincial Police is reminding people to beware of romance fraud, which, last year alone, cost Ontarians over $20 million.
, which, last year alone, cost Ontarians over $20 million.Romance scams happen when a scammer gains the trust and affection of a victim in order to receive money or engage in fraudulent monetary transactions with them. The scammer may connect with the victim through email, social media or dating apps.
You may have seen this type of scam in the Netflix documentary “The Tinder Swindler,” where a fraudster was accused of emotionally manipulating several victims to support a lavish lifestyle. But romance fraud can also happen in the form of convincing a victim to invest in cryptocurrency, joining a business with a scammer, or receiving money from a scammer while unknowingly committing a crime.
Fraud Reports to the Canadian Anti-Fraud Centre indicate that romance scams accounted for the second highest amount of fraud-related dollar loss in 2022, after investment scams. The CAFC highlights a few red flags to watch out for, including if your lover professes their love to you without having met you in-person, if they make excuses not to meet you in person, or if they try to guilt you into sending money. You can find a list of other warning signs by heading to theThey also warn that fraudsters are not typically amateurs and will often use technology in their manipulation tactics.
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