Romance may be in the air coming up to Valentine's Day, but Westpac NZ is warning people that potential partners may be looking for more than a love match.
Westpac NZ customer data from the last financial year shows the number of people caught up in romance scams increased by a third on the previous year.
Westpac NZ Head of Enterprise Customer Care Operations, Peter Barnes, says often these scams begin on dating apps and then quickly move to another messaging platform, and he is urging online daters to take a step back and look out for warning signs.
"It might start out as expected, but after a few months scammers may start asking for money to help with things like an unexpected business-related bill such as tax or a family-related medical expense, or even money for travel arrangements so they can come and visit," Mr Barnes says.
"By that time the scammer has gradually and cleverly built up a connection and trust with the victim, taking advantage of their good nature and desire to help."
One Westpac customer recently parted with $17,500 before she realised something was not quite right. She met her would-be partner on Bumble and the conversation quickly moved to WhatsApp. She believed she was talking to a man who lived overseas and was working offshore.
They had been talking online for about two months when the man asked for money to purchase equipment, saying he would pay her back. She realised she was part of a scam when the man would not agree to a video chat and then disappeared.
Sadly, Mr Barnes says, this is not an unusual story.
"Fortunately, we were able to recover this customer's funds, but only because she came to us pretty quickly after having realised she had been scammed.
"Some victims want it to be real and believe they will soon be sharing a life with this person, so not only do they not want to believe they have been scammed, they are also embarrassed about it when it turns out they have been," he says.
"If you believe you've been scammed, the sooner you call us the better the chance we can retrieve the funds. Losing money in this way can be incredibly upsetting, but our teams are trained to be empathetic and understanding - they're here to help in any way they can."
Westpac has a number of tips to help those feeling a little more vulnerable with Valentine's Day coming up to avoid losing their heart as well as their savings, and have sent communications to customers reminding them of these common red flags.
- Be wary of "love bombing" - people declaring their love early;
- Look out for attempts to move the conversation very quickly to private messaging platforms;
- Do not send money to anyone you have not met in person;
- Use reverse image search tools to check profile pictures are real.
What to do if you think you have been the victim of a romance scam:
- Stop communication and block the scammer if necessary;
- Contact the bank and be honest about your situation;
- Report the scammer to the platform where you met them.
