Jobs & Employment

Forex Trading Scams

You chat with someone for a long time without knowing that they are not who they say they are. Their intent is to benefit from you financially or obtain information from you that they can use to access your bank accounts or other forms of identity theft. This is either on social media or it is on dating websites.

How does this scam work?

Scammers set up dating websites or social media accounts. The intention of setting up these sites is to chat up with victims whilst making them part ways with their money or it is to obtain information that can then be used to defraud the victims such as banking information.

The scammers chat with you for a long time, make you develop feelings for them, and they pretend to be someone else who they are not. They usually like to stick in using texts and rather no video calling or exchanging of numbers.

There are a lot of dating sites throughout the world, and these are set up with intent to have victims continue to pay to use the dating sites. When you get on the site it is usually free and you get a lot of attention and messages from different ladies on the site i.e., if you are a man. These ladies will be interested in you a lot. To the continue with the chatting, you must pay. It is through this paying that this scam starts.

The scammers do not ever agree to meeting. They also do not agree to using voice or video chatting. They make you continue to pay and that is how they make money. In most instances you may be chatting with men whilst the profiles set are of women. Millions are made by scammers which set up such structures and thus it means that millions are stolen from victims.

In some instances, the scammers make up stories like they need money for medication or sorts, and this makes the victim send money to the scammers.

Another type of dating scam is when the scammers play a long con with you. They don’t set up a fake profile but rather a real one with their face but fake names and information regarding location and other things. They pretend to like you and you start chatting, they go to extents of even spoiling you with gifts. This makes you relax, and you end up thinking that their intentions are genuine.

They call you, video chat with you and do all kinds of stuff that people who are romantically involved can do via the internet and calls. Then since you are comfortable and, in most instances, you would have fallen for them, they make a request like wanting money and make an excuse which seems like an emergency. They can start with a small sum, and they return your money back to you, most likely with interest.

It is when you let your guard down that they make a huge request of money and then you never hear from them. It is a long con that you won’t see coming and other than your money, you will also be having a heart break.

Red flags or Warning signs

How to protect yourself

Have you ever been scammed?

  • Do you think that you have ever been scammed? If you have, you can help the next person and guide them from not being a victim by reporting this scam.
  • Reporting this scam can help your friends and family.
  • Also, seek help and guidance on how to avoid being scammed.
  • In case you have issued your banking details or any other personal information that can get your bank account defrauded, contact your bank immediately.

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