The digital age has been ushered in with a variety of really cool things that make our lives easier and more exciting. Instant everything, with a side of pop-up window in 36 characters or less, is pretty standard today, even in the world of romance as single persons go virtual in the search for love.
According to the U.S. Census figures from 2016, there are roughly 110 million adults over the age of 18 living in the country who are unmarried. The percentage breakdown is 53.2% women, 46.8% men, which immediately suggests a disparity for single people interested in meeting a potential mate. The answer, for some, is online dating.
The options are numerous these days for singles who want to reach out to other single people. Dating websites have exploded in popularity with Match.com boasting 23.5 million members to eHarmony's 4.1 million users. This surge in popularity also brings to the forefront a certain degree of risk and safety concerns for innocent people genuinely in search of a meaningful relationship.
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The FBI's Internet Crime Complaint Center reported that at least 14,546 adults in the U.S. were victimized by a confidence "romance" scam totaling a financial loss of nearly $220 million dollars in 2016 alone. These figures represent a huge problem for financial institutions too as more and more consumers turn to their credit union or bank for help during a financial crisis. The educational process for most consumers occurs after they lose a substantial sum to a confidence scam. Educating our clients is critical using whatever means of communication necessary.
Let's explore a few tips that have been created to inspire safety without compromising the excitement and fun associated with a new relationship – which can be shared with your members via your website and social media.
Don't Put It All out There – Save Something for the Actual Meeting
Cyber crooks often steal your identity by collecting multiple samples of your personal information from seemingly innocent online locations. Use caution with your name, cell phone information and location details. There is simply no reason to over-share here, especially when a fraudster may be simultaneously filling out a loan application based on your professional networking profile and initial conversations. Keep your comments light and topical when you are developing long distance relationships with strangers.
Romance Scams Are Unbiased – Everyone Is at Risk
Remember, there is no such thing as age or gender bias in the world of financial scams. Criminals simultaneously target all ages and genders and some work in teams so that a male and female voice is available on the other end of the phone when it comes time to take things to a new level with phone conversations.
Head Over Heels in Three Days?
Has your new friend suddenly become besotted with you? Oversharing and oddly possessive? This isn't your witty repartee drawing the person inward – this is typically the signs of an online grifter taking advantage of a situation to cultivate your attention. Use caution and move slowly. Don't trust anyone who proclaims their love or affection for you when you have never even laid eyes on them. The Long Game
Fraudsters often cultivate a mark for months. If you find yourself proclaiming that you are dating someone that you have never physically met after months of conversation online, you may be the target of a romance scammer. Phone calls really do not count as "dates." If you do end up meeting a stranger for the first time, make sure you are accompanied to a public meeting spot to ensure your personal safety.
Two Ships Passing in the Night?
Eventually, even after weeks or months of casual banter, you will want to meet the person who inspires you. If your new friend refuses to meet you or agrees and then repeatedly cancels your plans, then it's time to realize that you are dealing with an imposter who will eventually progress into someone who asks you for money or special favors that are illegal and jeopardize your job, savings and good credit history.
Men Are From Mars and Women Are From Venus? Really?
Many online fraudsters originate from various parts of the world even though they claim to live in your city. Use caution and don't discount warning signals that your new friend is not who they proclaim to be. Odd syntax and awkward usages of words could be an underlying indicator that you are communicating with an imposter. Be wary of giving out your cell phone information even if it's under the premise of expediting communication. Try to stay within the confines of the online community where you met.
Exchanging Words: YES! Exchanging Money or Merchandise: NO!
It is never OK to lend money or accept and reship packages on behalf of your new love no matter how tragic the circumstances appear to be. If the person you have been chatting with suddenly tells you that he or she has lost their job or experiences some sort of personal emergency, then terminate all contact. This is a classic criminal move and one to not take lightly.
A Second Opinion Matters
Don't discount the opinion of trusted friends and family when it comes to personal scenarios that require a second pair of eyes. We are often too close to our own personal situations to properly evaluate them. If a situation feels a bit unusual to you, then a trusted person in your circle may just be the sounding board you need to make a decision that could affect your health and your wealth.
I hope all are lucky in love this Valentine's Day 2018 – and please stay safe online.
John Buzzard is an industry fraud specialist, speaker and consultant for CO-OP Financial Services. He can be reached at [email protected].
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