This Valentine's be cautious not to “swipe right” into a scam! Why? Researchers at Tenable®, Inc., a exposure management company, is warning about romance scams.
Today, romance scam can continue to be the biggest consumer threat today. In fact, 39% of Indians' love interests turned out to be scammers. Romance scams are surging in the country, with a 400% increase in romance-related spam and email scams. Here's how a blind date can turn into a blank bank account!
V-Day special romance scams!
Scammers exploit dating apps and messaging platforms to target victims looking for companionship. Unsurprisingly, scammers are now leveraging generative AI to refine their messages, making their deception more convincing than ever.
Romance scams affect people of all ages and backgrounds. In India, particularly, scams on matrimonial websites are on the rise. A majority of women (78%) have encountered fake profiles. Scammers create fake profiles using stolen photographs, gaining the trust of victims and eventually manipulating them into sending them money for “custom clearance of gifts" or for “medical emergencies”.
In addition, elderly individuals, former military personnel, and those seeking financial arrangements are among the most vulnerable to romance scams. Scammers deploy various tactics, from impersonating service members using stolen photos to orchestrating fake “sugar mummy and daddy” schemes, luring victims into fraudulent financial transactions. Others entice victims into adult video chats that require paid registrations, generating illicit profits in the process.
The safety road ahead
The most dangerous form of romance scam today is ‘romance baiting,’ previously known as pig butchering. In these long-term cons, scammers establish fake relationships to build trust before convincing their victims to invest in bogus cryptocurrency or stock platforms.
Looking ahead, many of these scammers operate from overseas and don’t speak fluent English. So, how do they go unnoticed. In response to this, “AI helps them craft sophisticated, emotionally compelling messages that make their scams more believable and harder to detect," Satnam Narang, senior staff research engineer, Tenable, explained.
Coming to the safety roads, the best defence is scepticism. If someone you’ve never met in person asks for money, consider it a major red flag. If you believe you’ve been scammed, report the crime to your local law enforcement and cybercrime authorities immediately.
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