Netflix’s The Tinder Swindler: not always easy to avoid romance scams

The Tinder Swindler documentary provides a fascinating account of Simon Leviev’s spree of theft, forgery and fraud. Posing as a wealthy, jet-setting diamond mogul, he wooed women online then conned them out of an estimated $10 million. A social media outrage followed the release of the documentary when people learned that Leviev is currently a free man after serving five months in jail and was ordered to pay $47,000 to his victims.

In this digital age, online frauds proliferate and scammers get more and more audacious with their social media tactics: Leviev claimed to be the chief executive officer of a diamond company in danger from violent enemies.

2021: record year for romance scams

According to the FTC, the Federal Trade Commission (the agency in charge of consumer protection), people have reported losing a staggering $1.3 billion to romance scams in the last five years. Furthermore, romance fraud losses hit a record $547 million for 2021 involving over 56,000 cases, placing them on top of all fraud categories.

According to the FTC: “Romance scammers are masters of disguise. They create fake online profiles with attractive photos swiped from the web. Sometimes they even assume the identities of real people. They may study information people share online and then pretend to have common interests. And the details they share about themselves will always include built-in excuses for not meeting in person. For example, many reportedly claim to be serving overseas in the military or working on an offshore oil rig.”

How to spot a romance scam

Dating apps are not the only platforms where the scams are initiated, social media apps can also be used to send an unexpected private message. More than a third of people who said they lost money to an online romance scam in 2021 said it began on Facebook or Instagram.

• Scammers will ask for help while claiming one financial or health crisis after another. Their stories might involve a sick child or a temporary inability to get to their money for a whole range of reasons. They will also ask to send money repeatedly: the victims believe they’re helping someone they care about. But it’s all a lie.
• Another technique involves asking for help getting their inheritance money or moving funds for an important business deal. Stories like this often set people up to become “money mules” – they may think they’re just helping, but they’re really laundering stolen funds.
• Some victims are asked to deposit a check from their sweetie and to send some of the money as instructed, only to find out later that the check was fake – leaving them without the money they sent.
• Others report sending money based on promises – later proven to be false – that they would be repaid.

The latest trend in 2021: bogus investments in cryptocurrencies

According to the FTC: “A growing trend in 2021 was scammers using romance as a hook to lure people into bogus investments, especially cryptocurrency. People are led to believe their new online companion is a successful investor who, before long, casually offers investment advice.” After following their lover’s investment advice, they wind up losing all the money they invested.

So how can you spot scammers if you’re looking for love online?

• Nobody legit will ever ask you to help by sending cryptocurrency, giving the numbers on a gift card, or by wiring money. Anyone who does is a scammer.
• Never send or forward money for someone you haven’t met in person, and don’t act on their investment advice.
• Talk to friends or family about a new love interest and pay attention if they’re concerned.
• Try a reverse-image search of profile pictures. If the details don’t match up, it’s a scam.

Please do not forget to help stop scammers by reporting suspicious profiles or messages to the dating app or social media platform. Then, tell the FTC at ReportFraud.ftc.gov