It doesn’t matter if it’s a new romance or a long-term relationship. The feelings of love and trust are the same. You’re dating what you believe is the right person for you, and then your finances dive.
Maybe you loaned your special person money with a vocal promise of being paid back or invested in a non-existent company. You have options when it comes to recovering your losses, and it starts with contacting a recovery company.
The presence of law enforcement officials may also be required, depending on the depth and scope of the financial scam.
If you’ve been in a relationship that’s left your finances on shaky ground or are starting a romance, here’s what you need to know about dating scams and financial recovery companies.
What is a Dating Scam and How to Spot One
Dating scams happen online and in the real world. It’s hard to spot a scammer, especially in the beginning. They don’t concentrate on your bank account in the beginning. Instead, it’s your emotions scammers are focused on. They understand your need for romance and a human connection, and this is what they target.
It’s easier to say no to a stranger, than the person you are starting to love.
Common Romance Scams
Men and women in the U.S. lose several million dollars combined annually to romance scams. It’s a significant amount of money that most people can’t afford to lose. There are all types of romance scams that even include sick children and pets, there aren’t any limits to what scammers will say to get your money.
Some dating scams are more common and knowing what they are may help you spot others.
- Financial help with a business. Giving money to help someone’s business is not a good idea. It should raise a few red flags. If the business is in financial trouble, borrowing from a bank is a better solution than getting funds from a romantic partner.
- Pay travel expenses for a visit. Long-distance relationships are tough, and it’s exciting to see your loved one. Having preset financial arrangements for travel expenses helps protect both of you.
- Need a new phone or laptop. These devices aren’t the most expensive, but they can be the start of an expensive trend. If your love interest needs you to buy them a laptop or phone for communication, it’s a warning sign the relationship may be a scam.
- Paying an inheritance fee. Surprisingly, some states do charge an inheritance tax. Attorney fees are another possibility, but you shouldn’t pay for someone’s inheritance. It’s a common scam. You also don’t want to get involved with a legal matter, especially with someone you’re dating.
How to Avoid a Romance Scam
It’s not always easy spotting a scam. Some are believable liars, and the con artists are usually skilled at deceiving others. They’ve made a living off it and perfected their skills. You can avoid romance scams if you use some caution and common sense. Here are a few strategies that will help protect your heart and bank account.
Timing and place matter
The first meeting should always happen in a public place. You also want to meet the person within the first few weeks of starting a conversation. Failing to meet is a red flag that something may be wrong. Your new friends may be married, catfishing, or trying to take your money from another country.
Don’t keep the relationship private
Tell someone you trust there’s someone new in your life. Scammers know how to prey on your emotions, keeping others involved will help you keep a clear head if you’re asked for financial help.
Never wire funds
Don’t send your love interest money, even if you had your first date. Refuse the request and consider if this is the tone you want for the relationship.
Do your research
It’s easy to find out basic information about a person online. It’s also free. Changes apply for most in-depth searches, but it may be worth it when you’re risking your heart. Know who your new friend is before the relationship goes any further.
Take your time
Don’t rush into a relationship. Take your time. Get to know the person before giving them access to your home. If it’s true love, it’s worth it to enjoy getting to know each other.
Dating and Romance Recovery Companies
Sometimes, you still get scammed after being careful. You contacted the authorities, and your bank accounts are being taken care of, but what about your online currency? It’s when you need a Bitcoin Recovery company.
A cyber company or law firm is what you need to recover your cryptocurrency. They understand the ins and outs of the online world. They know how to track hackers and scammers and help you recover your Bitcoins and other types of cryptocurrency.