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The Australian Federal Police warns that scammers aim to ensnare their victims swiftly, often within the first 48 hours, subsequently prolonging the interaction to siphon as much money as possible.
Data from the Australian Competition and Consumer Commission (ACCC) reveals that last year, 1330 Australians fell prey to romance scams, resulting in losses exceeding $28.6 million, marking an increase of over 20% compared to the previous year.
These deceitful schemes can endure for weeks or even stretch over years, with some individuals in Australia losing hundreds of thousands of dollars.
One notable incident involved a man in his 60s who believed he was in an online relationship for two years.
During this time, he transferred money to the scammer and even secured a mortgage to buy a house before ultimately alerting the authorities.
By that point, he’d lost almost $800,000.
Police have notified authorities in the Philippines and suspect it was a money mule account.
Detective Superintendent Marie Andersson said a request to move the conversation off a dating app or social media account into a private messaging service was often the first red flag.
“Reason being is dating and social media platforms often have safety features and detection measures, which scammers want to get away from as soon as possible.
“Once a scammer has moved the conversation to a different platform, the victim is also isolated, meaning it can be easier to prey on their vulnerability, optimism and emotional investment to stop them walking away.
“Other warning signs include lots of attention or affection (love-bombing), oversharing of personal or emotional stories, having reasons why they can’t meet in person or video chat, and encouraging victims to keep their interactions private from family and friends, often under the guise that these other parties wouldn’t understand.”
In another case, a divorced woman in her 50s met a man on a chat group who convinced her he was interested in a relationship, claimed to be rich and sent her fake ID photos and videos.
After a month, he convinced her to invest in a fake AI application and in one week, she transferred more than $600,000 to an overseas bank.
She later reported the matter to ReportCyber and her bank but authorities believe it’s unlikely the funds will be recovered.
A study last year by cybersecurity company Gen found nearly half of people studied (44 per cent) would use AI for help building a dating profile, 41 per cent would use AI for therapy after heartbreak and more than a third (37 per cent) would consider letting AI go on a virtual date on their behalf.
A whopping 45 per cent of people studied would even consider dating an AI chatbot.
According to Dean Williams, a senior systems engineer at cyber safety and virus protection brand Norton, our loneliness is making us vulnerable.
“We’re seeing AI step into very human spaces by listening, comforting and advising,” Williams said.
“That can feel incredibly real.
“But loneliness can also lower our guard, and that’s when scammers move in.
“AI-powered tools can feel supportive, attentive and personalised… but the same technology is also making scams more convincing, emotional manipulation more subtle, and fake identities harder to spot.
“It’s never been more important to slow down, question what you’re seeing, and protect your personal information.”
Australian Banking Association CEO Simon Birmingham said advances in AI were helping banks fight scams, while at the same time making them more sophisticated.
“Banks are fighting back, using AI and other technologies to detect and shut down scams before they reach customers, however your own vigilance remains the most powerful protection.
“If it feels too perfect or something feels a little off, trust your instincts and double check, it could save you a lot of money.”
Tips to avoid romance scams
- Be wary of very professional and flawless-looking photos, as well as inconsistent details on profiles.
- Vague and repetitive answers could indicate you’re chatting to a bot.
- Try to verify the person by checking their social media presence or reverse-image searching photos.
- Be sceptical of fast-moving relationships, especially if someone tries to quickly move the conversation onto a messaging platform.
- Never send money or cryptocurrency to someone you have not met in person.
- Pause before acting on urgent requests such as claims of medical emergencies or investment opportunities.
- If something feels off, trust your instincts and don’t progress any further.