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Santander warns customers of heartbreaking romance fraud schemes | Personal Finance | Finance

Credit Card Scams

Santander warns customers of heartbreaking romance fraud schemes | Personal Finance | Finance

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This specific type of scam happens when fraudsters convince innocent victims that they are romantically interested in them and eventually con them out of money. In this day and age, romance scams are usually carried out online with fraudsters creating fake profiles to lure in unsuspecting people. Santander is attempting to educate its customers on how to spot these dangerous scams.

The bank is warning that scammers play the long game with their victims in order to build trust and secure any money they can.

Many fraudsters create a reason why they cannot meet their “partner” but will also invent a reason to ask for financial help after an emotional attachment has been made.

Despite promising to repay their loved one back, fraudsters will then stop replying to messages and requests for repayment.

For instance, an excuse often used by romance scammers is help for travel payment or hospital bills, Santander said.

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On its website, the bank provided examples of how customers can best protect themselves from harm when faced with potential romance scams.

Santander stated: “Never send money to someone you haven’t met in person. Always consider the possibility that the approach may be a scam, particularly if the warning signs listed above appear.

“Try to remove the emotion from your decision making no matter how caring or persistent the ‘prospective partner’ is.

“Be wary of requests for money. Never…

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