Valentine’s Day—a time for romance and connection—also creates a fertile ground for scammers looking to prey on vulnerable hearts.
With an increase in online dating and social media interactions during the season of love, cybercriminals are ramping up their deceptive tactics to exploit unsuspecting individuals.
According to Advocate Athaly Khan, Head of Fraud Risk Management at Standard Bank, what sets modern dating scams apart is their use of advanced manipulation techniques, including vishing and malicious links sent via chat platforms. These tactics are designed to trick victims into disclosing sensitive information or performing actions that benefit the scammer.
“From the cases we’ve handled, scammers often initiate contact on online platforms by expressing romantic interest. Once a connection is established, the scammer fabricates urgent financial or personal crises to manipulate their target into sending money or disclosing sensitive information. These scams can lead not only to severe financial losses but also emotional distress and long-lasting trust issues.”
In instances where victims have shared personal details—even something as seemingly harmless as a phone number—fraudsters can exploit this information in the following ways:
- Vishing: Scammers make use of phone calls or voice messages to trick individuals into transferring money or giving personal details.
- Phishing: Scammers share an email that looks like it is from a legitimate source, with a malicious link prompting the receiver to click on it.
- Malware: Scammers make use of a harmful software that is designed to cause disruption and grant them unauthorized access to other people’s devices. This is usually shared as links on texts or emails.
Scammers know the online dating world is full of potential targets. Here are some tips to avoid falling victim:
- Keep your banking and personal information safe. Never share it with someone you’ve met online, no matter how trustworthy they seem, and never transfer money to help with their so-called “crisis.”
- Be cautious of suspicious emails, especially those containing links, even if they appear legitimate.
- Only download applications from credible App Stores.
“We’re all for fairytales but remember, Fraud is no Fairytale. Scammers prey on people’s vulnerability in the search for love,” concludes Advocate Khan.
