Avoiding Romance Scams This Valentine's Day

Rachel Statzell • February 13, 2025

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Avoiding Romance Scams, Protecting Your Heart and Wallet


In today's digital world, finding love online has become more common than ever. However, this rise in online connections has also led to an increase in romance scams. In 2023, the Federal Trade Commission (FTC) received 64,003 reports of romance scams, with reported losses totaling $1.14 billion and a median loss of $2,000 per person—the highest reported losses for any form of imposter scam. ( ftc.gov ) At Superior Credit Union, we want to help you protect both your heart and your wallet. Here’s what you need to know about romance scams and how to avoid them. What is a Romance Scam? A romance scam occurs when a fraudster creates a fake identity to build a relationship with someone online, gaining their trust before manipulating them into sending money or personal information. These scammers often use emotional tactics, claiming to need financial help for medical emergencies, travel expenses, or unexpected crises. Red Flags of a Romance Scam Be on the lookout for the common signs that someone may not be who they claim:
  1. They move too fast – Scammers often press strong feelings quickly and may declare love after just a few conversations.
  2. They avoid video calls or in-person meetings – They may make excuses about wrong overseas or having a poor internet connection.
  3. They ask for money – A scammer will eventually request financial help, often in the form of wire transfers, gift cards, or cryptocurrency.
  4. Their stories seem dramatic or inconsistent – Many scammers claim be in the military, working on an oil rig, or dealing with emergency.
  5. They pressure you to keep the relationship private – Scammers often discourage victims from telling family and friends to avoid being exposed.

How to Protect Yourself

To keep yourself and your finances safe, follow these steps:
  1. Be cautious with online relationships – If someone seems too good to be true, they might be.
  2. Never send money to someone you haven’t met in person – No matter how convincing their story is, avoid giving financial assistance to an online acquaintance.
  3. Do a reverse image search – Scammers of use stolen photos from social media or stock image websites.
  4. Verify their identity – If they claim to be in the military or working for a particular company, check official sources to confirm.
  5. Talk to someone you trust – If you’re unsure about an online relationship, discuss it with a friend or family member who can provide an outside perspective.
  6. Report suspicious activity – If you suspect a romance scam, report it to the Federal Trade Commission (FTC) at reportfraud.ftc.gov or the FBI’s Internet Crime plaint Center at www.ic3.gov .

Stay Safe with Superior Credit Union

Your financial security is our priority at Superior Credit Union. If you ever receive an unusual financial request or suspect fraud, contact us immediately. We can help you recognize scams and take steps to protect your accounts. Love should never come at a financial cost—stay vigilant, trust your instincts and protect yourself from romance scams. For more financial tips and security updates, visit our site or stop by yr local branch today!

Learn More...

To stay informed on common scams and fraud prevention, check out our scam Series of Blogs on our website.

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