How to spot a romance scam: NMRLD shares tips to avoid getting scammed this Valentine's Day

Think you’ve found the love of your life online, but they won’t meet up in person? Are they asking for money or encouraging you to invest in something you’ve never heard of?

These might be signs that the person you are talking to is actually a scammer.

“Romance scams are unfortunately all too common in today’s online dating world,” Benjamin Schrope, acting director of the New Mexico Securities Division, said in a news release. “These scammers are sophisticated and often target elderly victims with more capital. Our goal is to ensure that New Mexicans engaged in online dating know what to look for and how to best protect themselves from scammers looking to steal their money.”

The FBI reported that in 2021 there were more than 170 victims of romance scams in New Mexico; roughly a third of the victims were over the age of 60 and lost almost $1.5 million.

The New Mexico Regulation and Licensing Department shared these tips on red flags to look out for when dating online:

Scam warning signs

• Reluctance to meet in person, living in another country, or working on an “overseas project”
• Wanting a long-distance relationship
• Discussing wealth or business success
• Pressuring the victim to give them money
• Introducing an app or website with investing information

How to protect yourself against romance scams

• Keep your guard up and be wary of someone who starts asking for money or encourages you to invest.
• Do online searches to get a better idea of who you’re talking to. Scammers often use stolen images, so a reverse image search online might tell you all you need to know.
• Ask to meet in person or via a clear video chat to determine if the person is who they say they are.
• Research the websites and apps potential suitors suggest. Often, scammers will create a custom online platform to take your money and hide from authorities.
• All individuals offering investment advice or opportunities in New Mexico must be registered with the state Securities Division.

Report investment scams by contacting the state Securities Division at 505-476-4580.