Category: Tech

Romance scam, where scammers use the pretext of intimacy and love to trick someone into giving them money directly, are nothing new. Fortunately, efforts by financial institutions and government agencies to raise awareness of these scams have prevented many from falling for them. But this new scam will entice even the most savvy of individuals. It not only instils a false sense of trust and credibility, but also many people’s inexperience with cryptocurrencies, technology, and investment platforms. There is a new breed of romance scam targeting older, lonely and ignorant Americans. Typically, this covert method involves headline-grabbing cryptocurrencies, currency swaps, or other newly launched financial instruments. HOW THE ROMANCE SCAM WORK It starts in a typical way: connecting to dating sites or social networking sites. Targeted victims are lured into conversations with “intriguing” individuals with whom they seek to build relationships. Unlike typical love scams, where the victim is asked for money in order to have a fake medical emergency, bail a loved one out of jail, or for emergency travel expenses, the scammers are asking for money to be invested safely. Talk about a “secret method”. generate big profits. Romance scam recovery is done by tracing the account details of the scammer. TARGETTING THE VICTIM […]

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