romance scams

Question 1

the quintessential romance fraud

Answer 1

older vulnerable woman groomed over time by person who intends to scam her
way to get the money is to end up in some romantic relationship with victim
- sometimes it’s online

Question 2

what is the scam

romance fraud

Answer 2

• development of an online relationship (never met in person)
• scammer convinces partner to send money, buy gifts, invest in business
• scammers may offer gifts but ultimately will take more than they give

Question 3

grooming victims

romance fraud

Answer 3

building trust
- quick to call it love
- profile has vague information & few images
- emotional vulnerability of victim
- asks for money or something else of value

Question 4

faces of fraud

romance scams

Answer 4

innocent people’s pictures are stolen by scamers

Question 5

current trends

romance scams

Answer 5

older victims
- less likely to report scams
difficult proof
- where did money go & to whom
catching the crook
- issues w/internet & foreign jurisdiciton
white collar sentences
- not high

Question 6

cryptocurrency

romance scams: current trends

Answer 6

$139M worth of crypto scams in 2021
scammers suggest they can help victims make money through crypto
- fake sites to secure initial investment & letting victims withdraw $ to secure trust (pig butchering)
- following up with/request to invest in phony crypto exchange or to transfer into joint account for investment