How to protect yourself against romantic fraud
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Chances are you know someone close to you who has been affected by some type of financial fraud scheme. These different modalities do not discriminate and can vary, from calls and emails requesting sensitive information, to visits to your home pretending to be professional employees or police officers. But there is a particular scheme that has taken relevance these days through the Internet, especially among seniors, and that is the “romantic fraud.”
This so-called “love scam” happens when a person uses a fake profile on an online dating service or social network to lure another person in order to acquire personal information or money. By 2021, the Federal Trade Commission estimated that this type of fraud caused approximately $547 million in losses within the senior demographic on a U.S.-wide basis.
To avoid falling into a romance scam, never send money, gifts or gift cards, or make or accept transfers from a partner you have met online, but have not met in person. Also never share your card numbers, passwords, or personal information with someone you have just met online. If you suspect a potential love scam, discuss it with someone you trust, and if you think you’ve fallen for it, contact your bank.
At Oriental, we put your banking safety and peace of mind first. We recognize that these situations can be frustrating, which is why we have developed a series of initiatives and tools focused on prevention and education on the different fraud schemes, including love fraud. On our website listos101.com you will find educational videos with recommendations and tools on what to do for each type of scam and how to avoid them.
Also, we have a wide selection of cutting-edge technology tools to help you deal with fraud and keep your money safe and secure. From Mobile Banking alerts, the option to check your balances with Online Banking, to the SecurLOCK application, which allows you to monitor the use of your cards by setting spending limits. With all of these offerings, you will feel confident at all times.
At Oriental, when it comes to Love Fraud, you’ll find an ally to help you stay safe and always ready. For more information on other types of fraud, visit listos101.com. If you suspect fraud and want to report it, please contact us at 787-620-0000.
