Online romance scams reach new levels of deceit with artificial intelligence (AI), turning hopeful hearts into targets for sophisticated fraud.
According to the Federal Trade Commission, romance scams have caused losses of more than $1.14billion with the average loss per survivor is $2,000, making them the most expensive imposter scam out there.
Ahead of Valentine’s Day, Dan Holmes, senior fraud and identity expert at Feedzai, a cloud platform for managing financial risk, warns that these AI-enhanced scams are not only becoming more common but also more convincing.
Widowed for 11 years, Debbie Fox had built a ‘robust and full’ life as an avid traveler, cultural enthusiast, small business owner and dedicated community member.
Yet one area remained unfulfilled – her love life. Determined to change that, Fox joined an online dating platform, hoping to find companionship and genuine connection.
She soon met Russell – a man whose profile resonated with her passions.
“It felt very natural, very organic,” Fox recalls. “I thought he was truly interested in my life, my day-to-day, and even my past. It was wonderful to feel seen and heard.”
After chatting on the app for a few days, Fox and Russell moved their conversation to phone calls and video chats. Their daily, hour-long conversations created a strong bond. Fox believed she had finally found the one.
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