As Valentine’s Day approaches, banks are warning people to be on high alert for romance scams as criminals increasingly deploy AI to steal more than just your heart.
Red flags of AI romance scams:
- Deepfake Profiles: Perfect AI-generated photos and perfect profiles
- AI impersonation: Emotionally intense conversations that feel personal and authentic, but AI uses information from your profile and social media.
- AI-cloned video or audio: Highly realistic fake video or audio calls are used to further connect and ultimately coerce you into investing or sending money into malicious investment schemes.
ABA CEO Simon Birmingham said further advances in AI were making it much harder for people to distinguish between romance scams and genuine transactions.
“Unfortunately, artificial intelligence has made it easier than ever for criminals to pose as your perfect match,” Birmingham said.
“Scammers create perfect photos, deepfake videos, or imitate voices to trick people they’ve never met into believing they’re real.
“These criminals use highly sophisticated AI tools to deceive users, toying with emotions, trust, and even loneliness.
“Romance scams not only cause heartbreak, but they can also be financially devastating, with some victims losing tens or even hundreds of thousands of dollars.
“If you’re on a dating app hoping to find your Valentine, be especially careful. If it feels too perfect or something is a little off, trust your gut and double check. It could save you a lot of money.”
“While banks are fighting back by using AI and other technologies to detect and stop fraud before it reaches customers, the most powerful defense remains our own vigilance.
“We also call on the federal government to hold dating apps accountable under an anti-fraud framework, strengthen safeguards and hold them accountable to meet the same stricter standards as banks, telcos and other digital platforms.”
Top tips to avoid romance scams this Valentine’s Day:
- Be wary of photos that look very professional and perfect, or inconsistent profile details.
- Vague and repetitive answers may mean you’re chatting with a chatbot.
- Be skeptical of fast-moving relationships, especially if someone immediately tries to move the conversation to a messaging platform.
- Do not send money or cryptocurrencies to anyone you have never met in person.
- Pause before addressing urgent requests, such as medical emergencies or claims for investment opportunities.
- If you feel something doesn’t feel right, trust your intuition and don’t go any further.
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