As Valentine’s Day approaches, scammers are taking advantage of the season of love to target people through online dating sites, social media, and messaging apps. These “romance scams” often begin with friendly conversation and emotional connection before turning into requests for money or personal information. Scammers may claim to need funds for travel, medical emergencies, or business problems, but once money is sent, they disappear. The Federal Trade Commission (FTC) reports that romance scams cost consumers hundreds of millions of dollars each year, making them one of the most financially damaging forms of fraud.
To stay safe, it’s important to be cautious when communicating with someone met online. Avoid sending money, gift cards, or cryptocurrency to anyone who hasn’t been met in person. Be skeptical of stories that seem too dramatic or urgent, and never share banking or personal details with someone who hasn’t been verified. If a new online connection quickly professes love or avoids meeting face-to-face, it may be a red flag. Reporting suspicious profiles to the dating platform and the FTC can help prevent others from becoming victims.
MVSB cares about keeping the community safe from scams and offers online fraud prevention tools and resources to help everyone stay protected. Our local bankers are trained to recognize warning signs and can provide guidance if there’s concern about being targeted.
