Scams Week: Protect your wallet (and your heart) from a romance scam like this one
One ANZ customer almost lost out on $50,000 to a romance scam, but he's not alone - around 2.5% Australians have experienced a scam.
The theme for Scams Awareness Week 2024 is 'Share a Story, Stop a Scam'.
The more scam stories we get out there, the more you know what to look for, and hopefully that's fewer scams that are successful.
This week, ANZ is sharing its stories with Finder of some of the times where it has prevented scams.
Here's a story about a romance scam:
The customer contacted ANZ's contact centre wanting to process an international money transfer to Turkey.
During the call, the contact centre identified red flags suggesting the customer may be being scammed – this included the customer's age, the amount of money and the
destination of the funds. The contact centre referred the customer to ANZ's Scams Assist Team.
Through discussions, the Scams Assist team learnt the customer was attempting to send funds overseas to "a female friend" who he'd met through an online platform.
The scammer/s had advised the customer that their father had passed away and there was $1.5 million USD deposited into an overseas bank in her father's name from the
minster of treasuries and finance of the country.
The customer informed Scam Assist his friend and her lawyer were right now in Turkey to get the funds released to him and the customer was sending funds to pay for taxes.
ANZ advised the customer that it was concerned he was being scammed. Through the discussion, the customer admitted that it did seem far-fetched and too good to be true.
ANZ rejected the payment and prevented the customer from losing $50,000.00 AUD.
6 common romance scam scenarios
1. They tell you that they've just made a huge profit from a high return, low-risk investment. The scammer persuades you to go all in with this investment – it worked out well for them, after all.
2. After a few months, the scammer might say they're ready to move in with you and need money for a home deposit or a rental bond.
3. They send you items or money that they need you to send elsewhere. This is to cover up criminal activity.
4. The person you're talking to is living in a different country. They really want to see you in person, but they don't have the money for it. So, they ask you to send some across. You send them the money, but they never show up.
5. They've revealed that they're evading prosecution in another country and need your financial support to keep them out of trouble.
6. They have a relative that's unwell. They don't have the money to cover the medical bills, so they ask for your help.
How to spot a romance scam
If you've just matched with someone online, there are several signs to look for to protect your wallet (and your heart):
- The scammer expresses strong feelings very early in the relationship. They also progress the relationship a little too quickly.
- They move the conversation you're having on a dating app or website to a private messaging app, so they aren't flagged as suspicious for sending the same message multiple times.
- They never appear on camera or meet you in person and always have an excuse as to why.
- They keep making and breaking promises to see you in person.
- The scammer will encourage secrecy and try to isolate you from friends and family.
- Their online profile and what they tell you don't add up.
- They ask you for money either directly or more subtly.
Keep your money safe by understanding the types of scams out there.
