Romance Scams 2.0: The “Investment” Pitch That Drains Savings

Romance scams aren’t new — but they’ve evolved. Today’s scammers are blending emotional manipulation with financial fraud, creating a dangerous mix that can devastate victims both emotionally and financially. The latest twist? “Pig Butchering” scams, where fraudsters lure victims into fake investment schemes — often involving cryptocurrency — after weeks or months of building trust.

How the Scam Works

These scams are sophisticated and highly organized. Here’s the typical playbook:

• The “Accidental” Introduction
  It often starts with a wrong-number text or a friendly message on a dating app. The scammer seems polite, apologetic, and eager to chat.
• The Grooming Phase
  Over weeks or even months, they build rapport. They share personal stories, express romantic interest, and create a sense of exclusivity and trust.
• The Investment Hook
  Once trust is established, the scammer introduces a “can’t-miss” investment opportunity — usually in cryptocurrency or foreign exchange. They’ll claim insider knowledge or access to a special platform.
• Fake Profits, Real Losses
  Victims are guided to slick websites or apps that show fake dashboards with rising balances. Early withdrawals may even be allowed to build confidence.
• The Big Push
  Scammers encourage larger deposits, sometimes claiming you need to “top up” to unlock bigger gains or pay “taxes and fees” to withdraw funds. Eventually, accounts are frozen, and the scammer disappears.

Why These Scams Work

• Emotional Leverage: Victims believe they’re helping someone they care about — or building a future together.
• Social Engineering: Scammers exploit trust, urgency, and fear of missing out (FOMO).
• Tech Illusion: Professional-looking websites and apps make the scheme appear legitimate.

Cybersecurity Awareness Month Tip: Stay Vigilant

October is Cybersecurity Awareness Month, and this year’s theme is “Secure Our World.” Romance-investment scams are a perfect example of why cybersecurity isn’t just about passwords — it’s about protecting your emotions, finances, and identity.

How to Protect Yourself

• Pause Before You Pay
  If someone you’ve never met in person asks for money or investment, that’s a red flag.
• Verify Identities
  Use reverse-image searches on profile pictures. Ask for an in-app video call early in the conversation.
• Control Your Wallet
  Never connect your crypto wallet to websites or apps you don’t fully control.
• Check the Platform
  Legitimate investment platforms are regulated. Research the company name, read reviews, and verify licenses.
• Talk to Someone You Trust
  Scammers count on secrecy. Discuss any investment pitch with a friend, family member, or financial advisor.
• Report Suspicious Activity
  If you suspect a scam, contact our team immediately:
  • Local: 253-964-3113
  • Toll-Free: 866-968-7128
  • Text*: 253-964-3113
    (*Message and data rates apply)

Extra Tips for Cybersecurity Month

• Enable Multi-Factor Authentication (MFA) on all financial accounts.
• Update Your Privacy Settings on social media to limit what strangers can learn about you.
• Stay Informed: Scammers constantly evolve. Follow trusted sources for the latest fraud alerts.
• Remember: Scammers prey on trust and urgency. Slow down, verify, and protect your financial future.