- Australians lost a record $37 million to dating scammers last year, according to the consumer watchdog, with romance-baiting scams also on the rise
- The Australian Competition and Consumer Commission (ACCC) said scammers are increasingly turning to dating apps to lure victims
- Once the scammer has matched with someone, they’ll move to an encrypted messaging service and encourage them to invest in a fraudulent scheme
- The ACCC also stated that the total losses from scams across Australia eclipsed $37 million, however many go unreported
Australians lost a record $37 million to dating scammers last year, according to the consumer watchdog.
The Australian Competition and Consumer Commission (ACCC) revealed the figure along with a warning about romance-baiting scams.
These types of scams see people use dating apps to try and find victims. Once a victim has been selected, the scammer will invite them to an encrypted messaging service. From there the victim will be offered some type of fraudulent investment.
“These scams prey on people seeking connection and can leave victims with significant financial losses and emotional distress,” ACCC Deputy Chair Delia Rickard said.
“While traditional dating and romance scams tend to target older Australians, almost half of all losses to romance baiting scams come from people under the age of 35,” she added.
The ACCC said these specific dating scams contributed a whopping $15.2 million to the total $37 million in losses recorded in 2020, though the exact number is thought to be higher as many dating scams go unreported.
The Consumer Watchdog’s Deputy Chair advised anyone using dating apps should be careful and keep their conversations on the app and not move to other messaging sites.
“If you match with someone on a dating app, get to know them in the app as you have more protections than if you move to a different chat site,” she explained.
“Remember that you are in control and if you start to feel pressured by someone, stop communicating with them,” the Deputy Chair concluded.