Romance Scams: Protect Your Heart and Your Wallet
As online dating continues to grow in popularity, Monson Savings Bank is raising awareness about a serious threat that can come with it—romance scams. With the convenience of dating apps and social media platforms, forming connections online has never been easier. Unfortunately, scammers are taking advantage of this trend, targeting individuals emotionally and financially.
To help protect our community, Monson Savings Bank is sharing important information to help you recognize and avoid romance scams.
Common Red Flags of Romance Scams
- Requests for Money: The most obvious sign is an online love interest asking for money—whether through wire transfers, gift cards, or cryptocurrency.
- Emotional Manipulation: Scammers often create convincing stories, such as needing money for a medical emergency or to pay a phone bill so they can keep talking to you.
- Excuses to Avoid Meeting: They may claim to be overseas for business or military deployment, or say they live far away and need money for travel.
- Moving Off the Platform: Scammers often try to move conversations off dating sites to text or social media, where it’s easier to manipulate victims.
- No Video Chats: They avoid video calls or showing their real appearance, often using stolen photos to create fake profiles.
- Reverse Image Search: If you're suspicious, try a reverse image search of their profile pictures. If the photos appear under different names, it’s likely a scam.
- Not Limited to Dating Sites: Romance scams can also start on social media platforms like Facebook or Instagram.
What should you do if you have already sent money to a romance scammer?
- Contact Your Bank Immediately: Let us know right away so we can help protect your accounts.
- Report the Profile: Notify the dating site or social media platform to help prevent others from falling victim.
- Report to the FTC: Report the event to the Federal Trade Commission at ReportFraud.ftc.gov
Romance scams are especially deceptive because scammers invest time in building trust and emotional connections. It’s easy to feel like you truly know someone—even if you’ve never met in person or seen them on video. While online relationships are common in today’s digital world, it’s important to stay cautious and protect yourself.
At Monson Savings Bank, your financial and personal well-being are our top priorities. By staying informed and alert to the warning signs, you can help protect yourself and others from falling victim to these emotionally and financially damaging scams.
Learn more about ways you can protect your private personal information through Monson Savings Bank’s Safety and Security Blog category.
