When Romance Turns Risky: Stay Safe This Season
Valentine’s Day often inspires hopes of connection, whether you are meeting someone new online or reconnecting with an old acquaintance. Unfortunately, romance scammers are also especially active during this time. They know people are seeking affection, and they use that desire to inflict emotional and financial harm.
According to the Federal Trade Commission (FTC), financial losses from romance scams totaled $1.1 billion in 2023, with median losses per person of $2,000. These scams now represent some of the highest financial losses among all fraud categories, making them a serious threat for consumers.
How Romance Scammers Reel People In
Scammers often begin by creating convincing profiles with stock photos and flattering messages. They may claim to be working overseas, serving in the military, or recovering from personal hardship. Scammers try to build trust quickly and once they establish a connection, usually request financial assistance. Something “unexpected” happens and they need a little help. The scammer might claim to need help for a sick family member or a travel emergency, but the underlying request usually leads to a request for money.
The FTC warns that once someone you have never met in person asks you to send funds, it is time to stop communicating. Scammers frequently ask for gift cards or wire transfers because these methods are difficult to trace or recover.
Signs Something Isn’t Right
If your new online interest refuses to meet, offers inconsistent details about their life, or pressures you to help financially, pause immediately. Some scammers claim they are stuck overseas or working in dangerous environments. They may promise to visit soon, but an obstacle always appears. These stories are designed to keep you emotionally invested while preventing any in-person contact.
Reverse image searches through Google Images can help you determine whether their photos appear elsewhere online. If their story doesn’t add up or the person avoids video chats, it is a strong indication the relationship is not genuine.
How to Protect Yourself This Season
Love should never come with a price tag. Legitimate relationships often don’t require rushed financial decisions or secrecy. If someone asks you for funds, stop and reassess immediately. Talk to someone you trust. Reach out to your financial advisor to discuss general financial safety considerations, and report the incident to the FTC.
A Better Way to Celebrate Valentine’s Day
Instead of responding to unexpected online advances, consider reconnecting with people you already trust. Celebrate in ways that bring genuine joy. Real love brings security, not fear, confusion, or pressure.
If you or someone you care about has questions about financial safety, our team is here to help by providing general education and guidance on financial decision-making. Valentine’s Day should be about warmth and connection, not worry. Financial guidance can help support thoughtful decisions about your heart and your financial life from those who may take advantage of the situation.
This is intended for informational purposes only. You should not assume that any discussion or information contained in this document serves as the receipt of, or as a substitute for, personalized investment advice from Savant. Please consult your investment professional regarding your unique situation.