Not Just Romance: The Rise of Friendship Scams

Online romance scams have been wreaking havoc for years. A growing trend has a similar path, but the focus is on building deep trust friendships and seeking to steal every last penny from the target.

Here’s how friendship scams work.

How It Works:

• You meet someone online through social media or another platform. They may comment on your posts or reach out by direct message.
• Or you could receive what appears to be a wrong-number text (“Hi, are we still on for dinner tonight?”). You reply to be polite, and a conversation begins.
• Over time (weeks, months – sometimes years), a deep trust relationship develops. · Eventually, your new friend asks for financial help, or they may pitch an investment opportunity that they have made a lot of money with, and want you to benefit from their knowledge.

What You Should Know:

• Criminals infiltrate social media and other online spaces (yes, even texting your phone), showing interest in things you’re interested in or claiming to be in similar circumstances to form emotional connections.
• The platonic nature may reduce suspicion, making these scams harder to recognize.
• The money subject comes up as a personal and urgent need for your financial help, or a can’t-miss investment opportunity.
• The nature of the criminal enterprises behind this scam is to steal everything from their victims.

What You Should Do:

• Ignore (or delete and report if your phone has that option) seemingly errant text messages.
• Be exceedingly cautious getting to know new friends online; this scam is everywhere right now.
• Tell a close friend or family member about a new relationship, or call the AARP Fraud Watch Network Helpline to talk to someone trained in scams (877-908-3360).
• If you become a victim, immediately contact the relevant financial institution to see if you can get back any of your money. · Report to local law enforcement (and insist on a report), and to the FBI at IC3.gov.