Business Daily
Romance scamming: A global industry
Aug 26, 2020
Lisa Forte, a cyber security expert, and Professor Alan Woodward discuss the global industry of romance scamming, focusing on the emotional manipulation tactics used by scammers impersonating military personnel. The podcast delves into real-life accounts of victims falling prey to elaborate schemes, with a spotlight on cases from South American countries and Nigeria. Investigative journalist Jack Nicas uncovers the harrowing tale of a victim who lost $350,000 to a romance scammer, shedding light on the enduring prevalence of romance scams for monetary gain.
17:28
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Quick takeaways
- Romance scammers use stolen military photos to gain trust and manipulate victims emotionally.
- Scammers employ elaborate deception tactics and team efforts to convince victims to send money.
Deep dives
Sophisticated Romance Scams Targeting Vulnerable Victims
Romance scammers, often from South American countries like Colombia, create elaborate relationships with victims, leading them to believe in a false sense of trust. These scammers manipulate victims over months, gradually asking for substantial amounts of money. Victims, like Beth, are lured by charming military personas and dramatic stories to gain access to their bank accounts. The process involves building rapport and slowly escalating requests until victims, despite some initial skepticism, end up sending significant funds.
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