Romance Scams Are Rising Around Valentine’s Day: Here’s How to Protect Yourself
Valentine’s Day is a season of connection. But it’s also one of the busiest times of year for romance scams and online dating scams.
At Points West Community Bank, we’ve seen firsthand how convincing these schemes can be — and how financially and emotionally damaging they are. Whether you live in a large city or a small rural community, no one is immune.
Here’s what you need to know about how romance scams work — and how to avoid them.
What is a Romance Scam?
A romance scam (sometimes called an online dating scam) happens when someone creates a fake identity to form a relationship with you online. Over time, they build trust and emotional connection — then ask for money or sensitive financial information.
According to federal law enforcement agencies, victims nationwide lose millions of dollars each year to these schemes — often through:
- Wire transfers
- Gift cards
- Cryptocurrency
- Payment apps
- Mailed cash
The requests may sound legitimate. The relationship may feel real. But the financial loss is very real.
Common Romance Scam Red Flags
If you’re communicating with someone online, watch for these warning signs:
1. They Fall in Love Quickly
Scammers often express intense affection early on. Words like “soulmate” or “forever” may come fast — before you’ve even met.
2. They Avoid Meeting in Person or Video Chat
They may claim to be working overseas, serving in the military, or on an oil rig. There’s always a reason they can’t meet face-to-face.
3. They Ask for Money
This is the clearest red flag. Common stories include:
- Needing help with travel expenses to visit you
- Medical emergencies
- Business or investment opportunities
- Customs fees or shipping costs
No legitimate relationship should require you to send money to someone you’ve never met.
4. They Ask You to Move the Conversation
Scammers often encourage you to leave the dating platform quickly and move to private messaging apps. This helps them avoid detection.
How to Avoid Romance Scams
Protecting yourself doesn’t mean closing yourself off. It means staying informed and cautious.
Take Your Time
Real relationships grow steadily. Be cautious of pressure to move quickly.
Keep Conversations on Trusted Platforms
Dating sites have fraud monitoring systems. Leaving too soon removes that layer of protection.
Never Send Money or Financial Information
Do not share:
- Online banking login credentials
- One-time passcodes
- Debit card numbers
- Wire transfers
- Gift card numbers
Your bank will never ask you to send money to secure a relationship.
Talk to Someone You Trust
If you’re unsure, step back. Speak with a trusted friend, family member, or banker before making any financial decisions.
What to Do If You Suspect a Romance Scam
If you believe you’ve encountered a romance scam:
- Stop communicating immediately.
- Do not send additional money.
- Contact your bank right away.
- Report the scam to federal authorities such as the FTC or FBI’s Internet Crime Complaint Center (IC3).
The sooner action is taken, the better the chance of limiting financial damage.
A Community Bank That Looks Out for You
At Points West Community Bank, it is our focus to protect your financial well-being.
Scams may evolve, but they aren’t new. After more than 120 years in community banking, we know the importance of staying vigilant — and helping our customers do the same.
If you ever feel uncertain about a transaction or request, call us or stop by so we can talk it through first.