CUPID-19: Romance scammers taking advantage of the continuing pandemic

With the pandemic continuing to affect the daily lives of Australians, romance scammers are targeting the emotionally vulnerable and taking advantage of people wanting to escape the reality of lockdown. 

Coined “romance scammers”, criminals create fake profiles on popular social media platforms such as Facebook and Instagram or dating sites. They then start a conversation with their targets to build their trust, sometimes talking to them multiple times a day and for several months. Once they have built up this trust, they will trick their victims through a false story and ask for money.

ASIC has seen a rise in the number of investment scam reports from Australian consumers and investors during the COVID-19 pandemic. Already this year, there have been nearly 81,000 reported cases of all forms of scams with losses totalling over $77 million.

Now, more than ever, scammers are taking advantage of the circumstances of COVID-19. Isolation and loneliness have led to more people seeking conversations and human connection via the internet and digital devices, making them more susceptible to be targeted from romance scammers. In particular, romance scams have increased, where Scamwatch has reported 2,027 scams with losses of almost $20 million during 2020 alone. 

Tips to protect yourself:

• Stay aware and educate yourself and others on the different types of scams online
• Never send money to anyone you have not met in person
• Always be sceptical of individuals you do not know reaching out to you online. It’s always better to err on the side of caution when engaging online. 

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