In today’s digital world, one of the fastest-growing threats is the romance scam – where criminals exploit emotions to steal money and personal information. These scams often start on social media or dating platforms, with fraudsters creating convincing profiles and building trust over weeks, months or even years. Eventually, they ask for personal data that can compromise the victim, or for money, gifts, or the transfer of assets, often under the guise of an emergency, travel costs or investment opportunity.
How it works
Imagine connecting with someone on a dating app who seems genuinely interested and attentive, sharing stories of a glamorous life abroad and expressing a desire to build a lasting future together. Over weeks of messaging, they send lots of pictures but refuse any video calls and always have an excuse for not meeting in person.
Eventually, an urgent situation arises – such as a medical emergency or a sudden travel problem – and they ask for your help, urgently requesting a small bank transfer. Or they say they want to hand out gifts to family and friends but cannot make it to the shops, so ask you to mail them some gift cards. They might claim to need funds for a once-in-a-lifetime investment, or to jointly purchase a property with you, so that you can set up your future life together. These requests are emotional and highly time-pressured, tugging on the heart strings, making you want to act quickly to show you are dependable and trustworthy.
If any of the this sounds familiar, alarm bells should be ringing, as these are very common indicators of a romance scam. Behind the scenes, you could be unknowingly dealing with a sophisticated criminal who is weaving a convincing narrative in order to exploit you.
It is very easy to believe that these connections are genuine, especially if it seems as though you have so much in common. It is difficult to imagine that someone could have crafted all of these commonalities and shared views, likes, and dislikes etc using details gathered from your social media to make their story more believable. Sadly, in so many cases that is exactly what has happened.
How you can protect yourself
At Lumin Wealth, protecting our clients from financial crime is a top priority. Here’s how you can safeguard yourself against romance scams:
- Be alert to red flags
- Requests for money, gift cards or investment opportunities – especially urgent or emotional appeals.
- Reluctance to meet in person or speak on video.
- Stories that seem too perfect or dramatic.
- Shared views/likes that could be based on your social media.
- Verify before you trust
Never send money, gifts, online access credentials or sensitive personal information without independent verification of exactly who it is you are dealing with.
The following guidance may apply:
- They claim to be a celebrity, or public figure: It is unlikely they would require financial help or gestures, or that they would be keen on starting a romantic relationship via online platforms, particularly if they live in a different country. Never be reticent about requesting more information, and at the very least requesting a video call to verify that the person is who they say they are.
- They claim to be working for a well-known company or public agency: You can check by contacting the organisation directly using official contact details found online, not those provided in any messages you might receive.
- They are overseas/unavailable to meet in person: You can request a video call and see whether they refuse. But even if they accept, take care to watch for anomalies such as visual glitches, poor lip-syncing or out-of-time responses to your questions, which might indicate video manipulation. You can also carry out reverse image searches using Google images, or TinEye, to see whether the same photos you have been sent appear elsewhere online, linked to other people.
It may seem intrusive in a developing romantic relationship but given the risks that apply to both parties, a genuine person should not be reluctant to properly identify themselves. So, ask them to show you their government issued identification document, such as passport or driver’s license.
- Protect your personal data
Use strong passwords, enable two-factor authentication and avoid oversharing on social media. Fraudsters are increasingly finding it easier to piece together personal details that enable them to guess passwords and the answers to security questions. Articles on our Cybersecurity webpage are dedicated to this subject, and can help you with further information, tips and guidance.
- Use trusted sources
You can visit the police.uk website for further guidance and if you have suspicions, call the police directly by dialling 101 for non-emergency assistance and advice.
If you believe you have been the target of a scam, please report it to the police and to Action Fraud as this will help raise awareness and prevent others from falling victim.
- Talk to someone
If you’re unsure about a request for your personal information, money, or anything like an investment opportunity, speak to someone. This might be a trusted friend or family member, or even your Lumin Wealth adviser.
We are here to help protect your wealth and peace of mind, with in-house experts in financial crime prevention who can provide you with information and support. You can reach out us via our usual number, or the links on our website.
It is easy to feel sensitive about discussions concerning developing romantic relationships, but it is also critically important in today’s climate of online financial crime to maintain a healthy scepticism. In short: if in doubt, reach out.
Remember: Awareness is your strongest defence. Romance scams prey on trust and emotion, but with vigilance and the right checks, you can stay safe.
