Category: Scammer
Canadians Lose $50M to Romance Scams in 2023
CTV NEWS – According to the Canadian Anti-Fraud Centre, 945 Canadians were caught in romance scams, losing $50M. In Ontario alone, victims reported losing $21M.
Online Dating Scams Peak Ahead of Valentine’s Day
CBS NEWS – The period leading up to Valentine's Day sees a spike in online dating scams, with a significant increase in the use of bots and AI by scammers. According to Arkose Labs, dating apps experienced a 2087% rise in bot attacks from January 2023 to January 2024. These bots create fake profiles to initiate relationships and eventually convince victims to send money. In 2022, romance scams affected 70K people, resulting in $1.3B in reported losses, predominantly targeting individuals aged 51 to 60. Warning signs of potential scams include overly formal messages, inconsistent information, odd communication patterns, unrealistic photos, and requests for money.
by Ash-har Quraishi & Amy Corral
See full article at CBS News
Major Campaign to Fight Fraud Launched in the UK
GOV.UK – The "Stop! Think Fraud" national campaign, launched on Feb 12, 2024 by the Home Office and supported by counter-fraud experts, aims to combat fraud, which accounts for 40% of crime in England and Wales. The campaign introduces an online hub offering clear anti-fraud advice and support for victims. Key supporters include Match Group, alongside other major stakeholders, underlining the collaborative effort to address the UK's most prevalent crime.
Rising Threat of Catfishing: Understanding and Combating Online Identity Deception
CNN – Catfishing, where a person creates a false online identity to deceive others is a growing issue in the digital age. Common motives include lack of confidence, the desire to explore sexual preferences, or engage in relationships outside of real-life constraints. Studies reveal that catfish are often educated men, sometimes from religious backgrounds, and may exhibit traits of sadism, psychopathy, and narcissism. In the U.S., romance scams from catfishing have led to significant financial losses, with $740M lost in 2022 alone. The UK and Singapore also report high losses from romance fraud. Financial losses are particularly high among older victims. Cybersecurity experts suggest vigilance in online interactions to spot potential catfish, such as inconsistencies in stories and reluctance to meet or video call.
by Sen Nguyen
See full article at CNN
Mark Brooks: The key thing that we aim to deliver with online dating services is real people. That's what users pay for – Introductions to real people that will do them no harm. Most quality dating apps have an arsenal of tools to weed out rogues and catfish. Both internal and external. I would like to recommend to you the dating-context-specific tool RealMe. RealMe is an easy-to-integrate platform to protect your users and build trust through simple user verification and seamless background checks – all while providing a new revenue stream. They are a long-term supporter of OPW and my team and I have worked closely with them so their service is specific for dating. Please email me directly and it will be my pleasure to introduce you to them.
Rising Dating Scams in Netherlands: ~€7.6 Million Lost in 2023
NL TIMES – In 2023, Dutch victims lost ~€7.6M to dating scams, a 75% increase from the previous year. Of the 494 reported victims, 264 suffered financial damage, with average losses of €30K each. This rise is linked to investment fraud tactics used by scammers. To tackle this, the Fraud Help Desk, in collaboration with Tinder and Victim Support Netherlands, launched a campaign to educate online daters about spotting fraud.
Dating Safety: Cost or Revenue, After-thought or By-design and How the Garbo Experiment Actually Proved the Model – Neil Davis, CBO of RealMe
LTR – Neil Davis, CBO of RealMe, delves into the dichotomy of dating safety as a cost or revenue opportunity in his presentation. He challenges the conventional view of safety as a mere expense, suggesting that prioritizing it can lead to increased user engagement and revenue. Davis cites the decline of Spark Networks, emphasizing the real-world impact of safety issues on dating platforms. RealMe offers user verification and background checks as solutions, highlighting their role in compliance with regulations and enhancing user trust. The presentation discusses the flawed Garbo experiment, acknowledging user demand for safety measures. Davis concludes by emphasizing the revenue-generating potential of safety features, citing increased user engagement, lower churn, and higher monetization as potential benefits.
The January LTR was kindly sponsored by ParshipMeet Group, RealMe, along with Courtland Brooks and Matchmaker.com
Online Dating Safety Law Takes Effect in Utah
KUTV – Utah's new Online Dating Safety Law, House Bill 18, aims to enhance safety for users of dating apps. Sponsored by Rep. Angela Romero, it requires dating apps to disclose background check policies, provide safety tips, and inform users about banned individuals. The law was prompted by a BYU study highlighting risks of sexual assault from online dating encounters, especially among vulnerable populations. It mandates clear reporting mechanisms for violence or scams and emphasizes the importance of consent. The bill, which received unanimous support and was signed by Governor Spencer Cox, reflects a move towards greater transparency and user protection in online dating.
Dating App Down Is Using AI to Catch Catfishers
State of Internet Scams 2023
SOCIAL CATFISH – In 2022, Americans lost a record $10.3B to online scams, a 277% increase from five years ago, with the average loss per victim rising to $12,859. Social Catfish's "State of Internet Scams 2023" study, based on FBI and FTC data, reveals alarming trends:
- 81% of romance scam victims didn't report their experiences, often due to shame.
- Only 4.2% of stolen funds were recovered, mainly due to jurisdictional issues, as most scams originate outside the U.S.
- Young people (under 20) showed a 2,500% increase in money lost over five years, though seniors remain the most victimized group.
- Most online scams occur on social media platforms like Facebook, Google Hangouts, WhatsApp, Instagram, and Plenty of Fish.
- The emergence of AI technologies like voice cloning and deepfake videos raises new challenges in online scams.
- The United States leads in the number of online scam victims.
by Osaji Obi
See full article at Social Catfish