Fraudsters prey on the heart: key warning signs and prevention tips
The Bermuda Police Service (BPS) and the Bermuda Bankers Association (BBA) have issued a warning to residents about the growing threat of romance scams, urging individuals to stay vigilant against online fraudsters.
Romance scams typically begin when criminals establish contact with victims through online dating sites or social media platforms. Over time, the scammer, often located abroad, builds trust, sometimes even creating the illusion of a romantic relationship. Once the victim is emotionally invested, the scammer fabricates a financial emergency or claims they need assistance with travel expenses to visit the victim. These fraudulent requests can result in significant financial losses for the unsuspecting individual.
To help residents identify and avoid falling victim to such scams, authorities have outlined several red flags:
- “Your new friend moves too fast. Scammers are trying to develop a quick relationship with you so be on your guard when someone professes their love to you.
- If your love interest asks you to send money, or for payments in gift cards, cryptocurrency or through a wire transfer, be very suspicious.
- Does your new friend have an online profile? Look for inconsistencies between what they post, and what they tell you. If you’re suspicious, post their profile picture through your browser’s reverse image search to see if it’s been stolen from the internet.
- If you receive a message from your friend and they use the wrong name, that may be a red flag. Many of these fraudsters are working on multiple victims at the same time.
- Scammers will claim that they live close to you but that they’re working overseas. They do this so that they have numerous reasons to ask for you for money. Be on your guard.
- If you receive a cheque or another form of payment from someone you’ve met online and they ask you to cash it and send a portion of the funds back to them – don’t do it. This is known as the “overpayment” scam.”
Authorities urge anyone who suspects they are being targeted by a romance scam to report the incident to the police immediately.
Additional information on financial crime prevention, along with resources for consumers and small businesses, can be found on the BBA website at https://bermudabankers.org/for-consumers-and-businesses and through Bermuda’s four licensed banks’ websites and social media channels.
