How to Recover Your Money from Romance Scams

Romance scams, also known as online dating scams, are perpetrated by cybercriminals who trick unwary victims through several effective psychological strategies. Shocking statistics from the Federal Trade Commission (FTC) show that in the year 2019 alone, victims lost more than $200 million to cons who pose as romantic partners online. 

Sadly, this is only the tip of the iceberg. Since most of these scammers are individuals who turn out to be ghosts, victims find it hard to recover their money. Read on to discover the steps you should take should you fall prey to a romance scam. 

Steps for Recovering Money Lost to Dating Scams

It’s pretty hard to recover from the effects of an online romance scam, both emotionally and financially. It becomes even more complex if transactions involve cryptocurrencies, which employ secure blockchain technology. 

This guide takes a comprehensive look at some of the few tips and tricks that could potentially offer you an edge in recovering your lost funds.

1.  Report the Incident

The first thing you should do is to report the scammer on the very website, app, or social media platform where they duped you. Share their relevant details in case you have any. Incidences within the country can be reported to appropriate authorities like the FBI. 

This may aid in following the money, which is a crucial step in recovering it. Be sure to immediately contact your bank or financial institution if you give out vital credentials, such as your bank account numbers and login passcodes, to cons accidentally.

2.  Solicit Recovery Expert Solutions

There are competent firms whose chief aim is to help victims of online dating scams recover their money. Notable mentions of such reputable companies include Recoup24 and Bluespringes. Such companies offer credible solutions which are founded upon strong legal, financial, and regulatory backgrounds.

It’s more effective to leverage the services of third-party recovery firms as opposed to doing it all on your own. They employ specialized business intelligence gatherings besides other sophisticated approaches.

In Conclusion

Online dating platforms are quite convenient. However, these sites are also prime hunting grounds for scammers looking to steal your hard-earned cash. 

Just watch out for romance fraudsters! Some random guy or gal from a dating app, dating site, or social media could potentially leave you with a maxed-out credit card, an empty wallet, and a broken heart.

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