Bank Of Ireland Warns Of Romance Fraud Surge Ahead Of Valentine's Day

Bank of Ireland has issued a warning to consumers about the rising threat of romance fraud, urging people to be vigilant against online scammers seeking to exploit romantic connections for financial gain.

The bank has seen an increase in reported cases of romance fraud, where fraudsters create fake online profiles to build relationships with victims and then manipulate them into sending money.

"We are all more used to connecting online now, but it's important to be aware that a seemingly innocent connection may hide much darker intentions," said Allison Ewing, Fraud Customer Experience Manager, Bank of Ireland UK. "Real relationships take time to develop, so if a relationship is happening too fast and there is money involved unfortunately it's probably a fraud."

The bank advises consumers to never send money to someone they have only met or chatted with online.

"If you are a victim of a romance scam don't be embarrassed, contact your bank to see what actions they can take to support you," added Ms. Ewing.

Romance fraudsters often:

• Create fake profiles on social media or dating apps/websites.

• Use elaborate stories, such as claiming to be overseas for work or in the military, to justify not meeting in person. They may pretend to have a glamorous but isolating job that makes it hard from them to answer your video calls or meet. • Send daily messages which can quickly turn to declaring love.

• Request money under various fabricated stories, including for emergencies, medical expenses, travel costs, or investments. Fraudsters may seek to gain sympathy by fabricating a dying family member, illness or financial hardship. They invent urgent situations to pressurise their victim.

How to protect yourself from romance fraud:

Stop:

• Be cautious with new online relationships. Take your time to get to know someone and verify their identity.

• Be wary if you receive a message from a celebrity, these often come with a request for secrecy as it can't come out in the media, and then an ask for money as their assets are tied up due to legal proceedings, i.e. divorce.

• Never send money to someone you haven't met in person.

Think:

• Look for warning signs. Be wary of people who avoid video calls or meeting in person and who quickly express their love or ask for financial help.

• Pay attention to inconsistencies in stories.

• Remember – celebrities don't tend to message fans for money!

Check:

• Use reverse image search tools to check if photos have been taken from somewhere or someone else.

• If in doubt, don't be afraid to chat with a trusted friend or family member.

What to do if you've been scammed:

• Stop communication with the suspected scammer immediately.

• Report it to your bank, the PSNI and any relevant platforms, such as dating websites or social media platforms.