15 financial scams you should know

6) Romance scam

A romance scam is a confidence trick involving feigning romantic intentions towards a victim, gaining their affection, and then using that goodwill to get the victim to send money to the scammer under false pretenses or to commit fraud against the victim.

Fraudulent acts may involve access to the victim’s money, bank accounts, credit cards, passports, e-mail accounts, or national identification numbers; or forcing the victims to commit financial fraud on their behalf.

Romance scammers create personal profiles using stolen photographs of attractive people for the purpose of asking others to contact them. This is often known as catfishing. Often photos of unknown African actresses will be used to lure the victim into believing they are talking to that person. US military members are also impersonated, as pretending to serve in the military explains why the scammer is not available for an in-person meeting.

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