Member Security Awareness: Romance Scams
At Mazuma Credit Union, the security of our Members’ financial information and accounts is our top priority. As your trusted financial partner, we closely monitor the evolving risks our Members face in today’s digital world – from phishing and social engineering scams to identity fraud, cybersecurity threats, and beyond. We proactively share information to empower our Members to identify and avoid potential threats that can compromise the security of their data.
In today’s digital world, online dating and social media have made it easier than ever to connect with people. Unfortunately, scammers take advantage of this by using fake identities to manipulate people into sending money. The FBI and other fraud watchdogs warn that romance scams are on the rise, costing victims in the United States millions of dollars each year.
Protect Your Heart & Your Bank Account
Here’s what you need to know to stay safe:
Romance scammers create fake profiles on dating sites and social media channels, often using stolen or AI-generated photos of attractive people. They spend time building trust with their targets, showering them with affection, compliments, and promises of love. Once they have gained their victim’s confidence, they bring up false emergencies—like medical bills, travel expenses, or business problems—and ask for financial help.
Common signs of a romance scam include:
• The person says they love you quickly, sometimes within days or weeks.
• They claim to be traveling or working overseas, making excuses for why they can’t meet in person.
• They avoid video calls or face-to-face meetings.
• They request money for emergencies, medical expenses, or travel.
• They ask for payments through wire transfers, gift cards, or cryptocurrency – all methods that are hard to trace.
How To Keep Yourself Safe
To avoid falling victim to a romance scam, follow these tips:
• Be cautious when communicating with anyone you haven’t met in person.
• Do a reverse image search on their profile pictures to see if they are stolen from someone else.
• Never send money or share financial information with someone you’ve only met online.
• Talk to friends and family about new online relationships - scammers often try to isolate their victims.
If you suspect a scam, report it to the FBI’s Internet Crime Complaint Center (IC3) at www.ic3.gov.
Romance scams can be emotionally and financially devastating, but by being aware and keeping these tips in mind, you can protect yourself from fraudsters! Always verify who you’re talking to, be skeptical of requests for money, and report suspicious activity.
Check out Mazuma’s Member Security Center for more information!
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