In 2021, online daters lost a record $547 million to scams. Nev Schulman from MTV's 'Catfish' offers advice on how to stay safe.

The number of romance scams has increased during the pandemic, resulting in millions of dollars being stolen from individuals seeking love online.

In 2021, romance scams resulted in a record loss of $547 million for consumers, which is an 80% increase from the previous year. The median personal loss was $2,400.

Emma Fletcher, a senior data research at the FTC, stated that while the data does not provide a precise explanation for the growth, it is reasonable to assume that the pandemic may have contributed to it by drawing more individuals to online dating apps and social media, where they have encountered scammers.

Fletcher stated that since 2017, people have reported more than any other kind of fraud that the FTC tracks, resulting in $1.3 billion in losses.

She stated that it's a significant concern, noting that many individuals do not report such losses.

Common scams

There are a few scams that are most prevalent in online dating.

Fraudsters may request money from you shortly after connecting online, such as for a plane ticket to visit you, similar to the tactics depicted in Netflix's online-dating scam documentary, "The Tinder Swindler."

Fletcher reported that last year, there was an increase in investing scams, which involve receiving investment advice from someone online and being directed to a link to send money.

This company offers its employees benefits and job security.

Fletcher stated that these scammers frequently pose as knowledgeable investors providing guidance to their "romantic" victims, who unknowingly send money to fraudsters.

Romance scams are a common type of fraud that utilize cryptocurrency, a payment method that is difficult to track. In 2021, individuals lost a total of $139 million in cryptocurrency to romance scams, with a median individual loss of nearly $10,000, according to the FTC.

Red flags

Nev Schulman, host and executive producer of MTV’s “Catfish: The TV Show,” suggests several things online daters can do to safeguard themselves and prevent falling victim to scams.

To avoid falling victim to scams, it's important to verify the authenticity of the profile you encounter, as suggested by Schulman, who collaborates with Zelle to inform the public about fraudulent activities.

If you're considering dating someone, it's important to be aware of their profession and location, as it can provide insight into their lifestyle and potential compatibility.

Be wary if someone frequently travels and does not provide specifics about their activities or reasons for being unavailable to meet.

He said that it was odd that "that's a strange thing" was not free when they were "apparently trying to find someone to go on a date with."

Eva Velasquez, CEO of the nonprofit Identity Theft Resource Center, stated that one crucial warning sign is when someone appears to be always accessible, but their availability does not align with what they've shared about their personal or professional life.

Fletcher stated that while "The Tinder Swindler" portrays some romance scams involving in-person interaction, the majority of such scams occur without any physical contact.

If you think you’ve been in touch with a scammer

If you suspect that something on someone's profile is inconsistent or you're unsure about a request for money, there are several steps you can take to help resolve the situation.

By reverse image searching the images on their profile, you may be able to determine if the person is using someone else's photos or identity, as suggested by Velasquez.

It may be more beneficial to seek advice from someone who is not emotionally invested in the situation, as they may be better equipped to identify a scammer.

Fletcher advised that if they engage in conversations with acquaintances who express worry, they ought to take heed.

Velasquez advised against sending money or gift cards to someone you're unsure about their legitimacy, and to be cautious about sharing personal information like login credentials or passwords.

If you suspect that your identity has been stolen, you can report the suspicious profile to the platform or dating app where you've been in touch and seek assistance from the Identity Theft Resource Center.

If you've sent money to someone, it's unlikely that you'll be able to get it back. However, if you made a transfer, you may be able to freeze the account or recoup charges on a credit card. If you sent money directly or invested in something that turned out to be fake, you may not be able to recover it.

Fletcher stated that there are constraints to what can be achieved and it is difficult to assist any individual consumer.

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