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The most romance scams, around 30%, happen on Facebook, higher than any other social media or dating platform, a report by British bank TSB reveals. According to the report, elderly people are particularly vulnerable to such attacks due to the lack of familiarity with technology.
As Valentine’s Day, February 14, approaches, organizations across countries, including the FBI in the US, warn people to be aware of romance scams, where cybercriminals create fake identities and manipulate people into sending money. Cybersecurity experts urge users to be particularly cautious this year, as AI enables even more realistic scams, and are offering tips on how to stay safe.
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At the start of February, Nigerian police arrested a local cybercriminal for allegedly being involved in a large-scale romance scam. The man posed as “Travis Kevin,” a doctor from the US on Facebook and Instagram, and asked his victims for money for medical supplies in crypto, promising to repay them soon.
The FBI, UK police, and organizations in other countries have recently issued warnings to be cautious about similar scam scenarios.
US Romance Scams Cost Over One Billion USD
A previous report from the US Federal Trade Commission estimated that romance scams in the US alone cost users over a billion dollars back in 2023. Experts at Planet VPN, a VPN provider that emphasizes free service, claim that since then, these types of scams have increased both in numbers and sophistication.
Konstantin Levinzon, co-founder of Planet VPN, says that offenders typically employ tactics such as emotional manipulation and false promises of love or partnership, before fabricating emergencies or investment opportunities.
“Cybercriminals create fake identities on dating sites and social media using psychological manipulation to convince victims to send money. They are increasingly relying on generative AI tools to make their scams more convincing. With AI enabling the creation of fake images and videos with just a click, users should be particularly cautious,” Levinzon says.
A Generation Under Siege: Why Scammers Target Ages 65–74
A recent report from British bank TSB claims that people aged 65-74 were involved in the most romance fraud cases (23%), with those over 55 making up 58% of cases overall.
Meanwhile, social media platforms were linked to 58% of cases, while dating sites were involved in 42%. The data shows that 30% of scams were connected to Facebook, the highest among all platforms.
Levinzon emphasizes that when it comes to protection from scammers, the same principles apply across all platforms.
Money Talk is a Red Flag: Stay Suspicious, Stay Safe
“Be suspicious of anyone you’ve never met in person – that’s the only safe approach in a digital world increasingly filled with scams,” says Levinzon. “If someone you meet on a dating site seems suspicious, perform a reverse image search to check if their pictures are stolen from other sources. And if the conversation shifts to money, or if someone asks for personal information, leave the conversation immediately.”
To maximize protection, Levinzon advises using a VPN network. Some scammers can track users’ locations and then try to target them with personalized scams based on their country. When a VPN is turned on, it hides the person’s IP address and location, and encrypts all the data, making it invisible even to your internet service provider.
“For maximum security online, we also advise using strong passwords for all your social media accounts and dating sites, and enabling multifactor authentication. In addition, ensure that your privacy settings on social media platforms are set to the highest level, and limit who can see your posts and personal details,” Levinzon says.
