CIBC Commercial Banking Romance Scams
[This video uses animation to convey spoken content.]
[Music plays]
[The CIBC logo appears.]
[Cyber fraud prevention: Romance scams.]
[A mobile phone with a dating profile appears on screen.]
>>Narrator: Many people have been lucky to find true love online.
[The screen changes to an online banking account with funds decreasing.]
But for some, an online romance can become a financial nightmare.
In a romance scam, a fraudster pretends to have romantic feelings for their target in order to steal their money.
First, they make a fake profile on a dating website or social media app.
When they find the right person, the friendship becomes a whirlwind romance.
Once they’ve built a connection, the fraudster will experience an emergency and ask for financial help.
Over time, the fraudster invents more and more reasons for their victim to send them money.
[Recognize romance scams]
You might not realize you’ve been a victim until it’s too late.
Protect yourself by looking out for the following signs:
A social media profile that’s brand new or looks too good to be true, with pictures that are stolen from other websites, or a bio that doesn’t make sense.
Someone who claims to be temporarily working overseas.
A new romantic interest who professes their love very quickly.
An online friend who avoids meeting face-to-face or by video, always finding excuses to cancel.
And anyone who is always asking for money for emergencies, especially if they threaten to end the relationship if they don’t get what they want.
[Protect yourself]
You can protect yourself by remembering these 5 simple rules:
[Be skeptical]
Be skeptical of romantic messages from someone you just met, especially if that person seems too good to be true.
[Verify]
Do everything you can to verify the person’s identity.
Watch for warning signs such as saying “I love you” too soon or avoiding video calls or meeting face-to-face.
[Be cautious]
And be wary of anyone who frequently asks to borrow money.
[Protect your information]
Don’t reveal personal information or identifying details.
[Don’t send money or gifts]
And never give money or gifts to anyone you have never met in person.
Cybercrime is on the rise, and you can protect yourself.
[To learn more about fraud, including what to do if you've been a victim, visit us.cibc.com/FraudPrevention Opens in a new window..]
[Legal disclaimer: “The CIBC logo is a trademark of CIBC.”]