Jonesboro, AR – (JonesboroRightNow.com) – Feb. 10, 2025 – Arvest Bank is warning consumers about possible romance scams as fraudsters seek out potential victims ahead of Valentine’s Day.

Romance scams are a type of imposter scam that occurs when a scammer creates a fake online identity to gain a victim’s liking and trust. The criminal will use this false relationship built on affection to manipulate their target into giving them money or even gaining access to their financial accounts.

According to the Federal Trade Commission (FTC), consumers reported losing $1.14 billion to romance scams in 2023. The FTC reported median losses per person amounted to $2,000, the highest reported losses for any imposter scam.

“Online dating continues to be increasingly popular, but unfortunately, scammers are exploiting this trend to deceive people seeking love,” said Terri Coleman, branch administrator with Arvest Bank – Jonesboro. “To stay safe, it’s important to know how to identify and avoid online romance scams, including what to do if you’ve already sent money.”

Don’t Send Money

If a love interest asks for money, they may ask you to send it as a gift card, online money transfer or cryptocurrency. A simple rule to follow when dating online: Never send money or gifts to someone you have not met in person.

Scammers use various tactics, but many fall back on the lie that they need money because they or someone close to them is sick, hurt or in jail. According to the FTC, that was the most common lie reported by victims. Other common lies used include “I can teach you how to invest,” “I’m in the military far away,” and “I need help with an important delivery.”

Be wary of sad stories. Many are scam stories.

Do Your Research

If you’re unsure about a new online love interest, there are ways to analyze the user’s pictures to spot a fake profile. According to the FTC, having one or two photos may be a sign that the scammer is withholding information, as well as posting pictures that look too perfect, such as a stock photo. You can always do a reverse image search of the person’s profile picture to see if it’s connected to any other names or profiles online.

If you are chatting with someone you just met online, never share your personal information, including your last name, location or place of employment, as scammers may use this against you.

Pass Along These Tips

You may not be online dating, but you might know a friend or family member who is. While all age groups are vulnerable, older adults are often targeted by scammers because they typically have more assets and are less familiar with online dating. If you have a parent, grandparent or loved one you are concerned about, share these tips with them or offer to help them look into anything they’re unsure about.

Reporting a Scam

If you suspect that a new love interest has malicious intentions, make sure to report them to the dating site or app you are using. If you suspect you have mistakenly sent money to a scammer, immediately contact your bank or the company that you used to send the money. Make sure to report your experience to the FTC.

Learn more about imposter scams and ways to avoid them by clicking here.