Dating app users face increased risk of romance fraud as downloads spike on F…

Lonely people looking for love this Valentine’s weekend are being warned to be on their guard against “romance scams” which are expected to surge over coming days.

Dating apps traditionally see downloads increase by almost 10% on February 14 and with nearly 350 million dating app users worldwide, this means 28 million new users will be opening themselves up to both a chance of love and the possibility of falling victim to heartless crooks.

A romance scam can be defined usually involves an individual creating the illusion of a relationship to gain a victim’s trust and affection, pretending to be romantically interested, with the goal of manipulating them into sending money or personal information.

The Norton Cyber Safety Insights Report on online dating reveals that 54% of British individuals using dating apps have engaged with suspicious profiles or messages at least once a week, with 81% of those targeted suffering monetary losses.

These scams not only impact a victim’s wallet and ego, but can cost companies who operate dating apps significantly in lost revenue caused by disputes from scorned subscribers.

Affecting both men and women, romance scams are becoming increasingly common with a recent survey by Statista finding that 53% of male online dating users and 47% of female users reported being targeted.

The most worrying statistic is that 81% of UK online daters who were victims of dating scams had lost more than £1,008 on average.

The scammers operate by exploiting loneliness as a key tactic with this leading to people of all ages making risky decisions online that expose them to falling victim.

Once they have gained a victim’s trust, the scammer may request money, access to bank accounts, or even involve the victim in laundering funds unknowingly. Then, depending on how the money is sent to these scammers, the chances of the victims being able to recoup their funds through the chargeback process are slim.

However, companies who operate dating apps also run the risk of losing out via chargebacks from subscribers who may blame the dating platform for not protecting them.

Security expert Monica Eaton, founder and CEO of dispute mitigation platform Chargebacks911, says one of the best forms of protection is to verify who you are actually speaking with. This can include carrying out some research on their personal profile and activity on social media and to speak face to face on video calls to confirm their authenticity.

She said: “If the person refuses to speak over video or meet in person, there is a high chance it’s a scam. Also people should never entertain a money request from anyone they are engaged with online and never share personal and sensitive information.”

Monica says it is also easy to do a background check such as a reverse image search on the person’s profile picture or any photos they’ve shared.

If the images are linked to a different name, appear elsewhere, such as on an eCommerce site or the details don’t align, it’s highly likely that it’s not them and it’s a scam.

She added: “Loneliness is a powerful human emotion, and scammers know exactly how to exploit it. Every year, in the days and weeks leading up to Valentine’s Day, there is a sharp rise in online romance scams, just as there can be around other holiday seasons with more people seeking companionship and a feeling of togetherness.

“While technology like AI matchmaking has evolved to allow for more convenience and better access to new connections, these same innovations pose a threat to victims and dating platforms everywhere. With heightened awareness and more vigilance, consumers can enjoy the benefits of online con httpnections while staying safe from damaging scams.”

To learn more visit: Chargebacks911