Valentine’s Day scam warning for South Africa

Valentine’s Day is tomorrow, 14 February, and South Africans looking for love should watch out for potential scammers.

The Southern African Fraud Prevention Service (SAFPS) has urged South Africans to be cautious when using social media and dating apps.

SAFPS said that scammers are increasingly using romance scams and social engineering to perpetrate fraud and scams.

Social engineering is a tactic of manipulating, influencing or deceiving a victim to gain control of their computer or steal personal and financial information.

The scammers use psychological manipulation to trick users into making security mistakes or giving away sensitive information.

“Technology is playing an increased role in the majority of the reported fraud instances,” said Nazia Karrim, Head of Product Development at the SAFPS.

“Social engineering is becoming a reality of everyday life and has dire consequences. The public needs to be aware of this growing threat.”

Karrim added that social engineering exploits a person’s trust to get access to their confidential information or money.

A common tactic by scammers is to create a fake profile and then befriend potential victims, with them taking a great interest in their victim’s social lives.

International reports show that up to 3% of the general population in Europe has fallen victim to romance scams.

“Similar statistics, in terms of percentage increases, are being replicated worldwide,” warned Karrim.

The growth of technology has made engaging with friends via social platforms and using online dating platforms the norm.

“While this is great, we cannot take everything and every person at face value,” said Karrim.

“Scammers have become very good at creating profiles modelled around the ideal criteria of a person that most people are looking for in a friend or partner.”

“Once an initial connection is made, the scammer interacts as that person, creating a bond with potential victims.”

Karrim noted that scammers will often insert themselves into the lives of their victims and become very interested in all aspects of their lives, including family, pets, and their financial and work situations.

“This last part is important when running investment scams.”

The personal information gained by scammers is essential for several reasons.

Statistics show that despite regular warnings of the need to employ strong passwords, an ordinary person still uses passwords that are linked to their personal lives,

This includes information such as the names of loved ones along with key dates like anniversaries or birthdays.

“Armed with this information, scammers have a perfect platform to commit impersonation fraud,” said Karrim.

However, scammers also use another, more direct tactic when defrauding their victims.

“The purpose of scammers inserting themselves into the lives of their victims is to pull on their heartstrings.”

“From the basis of a romantic relationship or a friendship where the parties share common ground, scammers will start requesting money for all kinds of things like airtime or data, school uniforms or stationery, or even medical procedures for their children or loved ones.”

The victim is then led down a path that could have significant financial implications.”

Scammers will also often ask someone they have formed a connection with to join them in an investment opportunity that promises massive financial returns which never materialise.

This offer can be effective in luring people struggling financially or those seeking more from life.

What to do

With the rise of these scams, SAFPS provided the following tips so that South Africans can keep themselves safe:

• Evasive when it comes to making contact in person: When a victim wants to take the relationship or friendship to the next level and meet in person, scammers often become evasive, making excuses as to why they can’t meet in person or take a video call.

• Keen interest in significant dates and personal information: Be wary about a stranger suddenly becoming interested in information such as significant dates and the names of children and loved ones. Be cautious about handing over this information to someone you have never met in person.

• Amazing investment opportunities: When you are faced with an amazing ‘investment opportunity’, these often offer significantly higher returns than those provided by banks and financial institutions regulated by the government. If it seems too good to be true, it probably is.

• Advance fee requests: These investment scams also involve advance fee requests to speed up the processing of a document or to pay the fees associated with setting up an investment, which never then materialises.