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Starting from 2022, the number of cases of romantic fraud in Latvia has significantly increased. The victims of "lone colonels" and "widowers with many children" are mostly women over the age of 50, according to the Financial Industry Association.
"The extent of' romantic fraud is difficult to determine, as not all victims report the deception to the police or the bank. However, judging by our estimates, this type of fraud is becoming more and more popular in the world every year. The highest point occurred during the pandemic.
We see that scammers are increasingly beginning to focus on a small, but regular income. Relatively small money transfers are much more difficult for bank security authorities to track than large transfers, and fraudsters take advantage of this. In addition, in the case of love fraud, people are willing to part with their money for a long period of time-sometimes months or even years. Thus, the total amount of money stolen can be very significant," said Laima Letinya, an adviser to the Financial Industry Association.
According to experts, the victims are sensitive and kind-hearted people. Most often, scammers create fake profiles in social networks and for a long time ingratiate themselves with the trust of their future victims.
Usually, everything starts with an invitation for friendship from a foreigner, who establishes regular communication with a woman, and then increases the intensity of correspondence. This often turns into a romantic relationship, which criminals take advantage of: at this point, they begin to ask for financial assistance. They usually need money for "sudden medical expenses", for helping relatives who are in a difficult situation, for a ticket to bring a meeting with their beloved closer.
Most often, the victims of this type of fraud are women over 50 years old, but people of other age categories also fall into the networks they set up. Scammers often seduce young girls on dating platforms like Tinder and Badoo, while older women are often seduced on Facebook and Instagram.
Experts note that scammers also come across educated women with high incomes, as well as with low ones. A distinctive feature of victims is a high level of empathy and compassion.
• Source: https://www.financelatvia.eu/news/r...puriem-klust-sievietes-vecuma-virs-50-gadiem/
"The extent of' romantic fraud is difficult to determine, as not all victims report the deception to the police or the bank. However, judging by our estimates, this type of fraud is becoming more and more popular in the world every year. The highest point occurred during the pandemic.
We see that scammers are increasingly beginning to focus on a small, but regular income. Relatively small money transfers are much more difficult for bank security authorities to track than large transfers, and fraudsters take advantage of this. In addition, in the case of love fraud, people are willing to part with their money for a long period of time-sometimes months or even years. Thus, the total amount of money stolen can be very significant," said Laima Letinya, an adviser to the Financial Industry Association.
According to experts, the victims are sensitive and kind-hearted people. Most often, scammers create fake profiles in social networks and for a long time ingratiate themselves with the trust of their future victims.
Usually, everything starts with an invitation for friendship from a foreigner, who establishes regular communication with a woman, and then increases the intensity of correspondence. This often turns into a romantic relationship, which criminals take advantage of: at this point, they begin to ask for financial assistance. They usually need money for "sudden medical expenses", for helping relatives who are in a difficult situation, for a ticket to bring a meeting with their beloved closer.
Most often, the victims of this type of fraud are women over 50 years old, but people of other age categories also fall into the networks they set up. Scammers often seduce young girls on dating platforms like Tinder and Badoo, while older women are often seduced on Facebook and Instagram.
Experts note that scammers also come across educated women with high incomes, as well as with low ones. A distinctive feature of victims is a high level of empathy and compassion.
• Source: https://www.financelatvia.eu/news/r...puriem-klust-sievietes-vecuma-virs-50-gadiem/
