You begin using an online dating platform or social media channel to connect with a possible companion.
You develop a rapport with someone online and your relationship begins to deepen.
Your romantic interest asks you to pay for a medical emergency, legal fees or travel expenses.
You pay the requested amount via wire transfer for gift card. Once the money is received, the person discontinues contact.
If you believe you’re the victim of a Romance Scam, don’t be embarrassed to seek help. Responding quickly can help limit damage.
Reach out to a trusted individual for guidance, such as a friend, family member or your Morgan Stanley Financial Advisor.
If you shared any bank account information or sent money, contact your financial institution immediately to discuss cancelling any fraudulent transactions and possibly opening a new account.
Report the incident to the FTC and visit IdentityTheft.gov for more information and specific actions based on your situation.
At Morgan Stanley, safeguarding your assets and personal information is among our highest priorities. Learn about our security measures and use our resources and ideas to help protect yourself online.
“Among older adults, hardest hit were the 60-69 and 70-79 age groups, which reported $129 million of the 2020 reported losses, making romance scams the category of highest reported losses for both groups.” Source: Protecting Older Consumers 2020–2021, A Report of the Federal Trade Commission, 34, October 18, 2021. https://www.ftc.gov/system/files/documents/reports/protecting-older-consumers-2020-2021-report-federal-trade-commission/protecting-older consumers-report-508.pdf
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