Investment & Romance Scams

Investment and romance scams are the costliest types of elder abuse fraud. These deceptive schemes often start on social media, where scammers build trust to access victims' savings. We’ll break down how these scams typically unfold, highlight common warning signs, and share practical steps to help safeguard yourself or loved ones who might be vulnerable.

What to Look For

Investment Scams: These occur when a victim is approached, either in person or online, with a "once-in-a-lifetime" investment opportunity. Scammers lure victims into investing in stocks, cryptocurrency, or real estate, promising huge returns with little or no risk. They may even provide fake statements to show the investment is growing or send small payouts to entice further investments.

Romance Scams: Typically start online through dating websites, social media, or even online games. Scammers often initiate contact, pretending to be someone they’re not, building trust to ask for money later. They’ll create excuses for not meeting in person and eventually claim they need money for an "emergency" or banking problems.
How to Protect Yourself

Trust your instincts: If something seems too good to be true, it probably is. Research any company or individual offering investment opportunities, and never feel pressured into quick financial decisions.
Be wary of love-bombing: If someone is overly eager to profess their love or insists on secrecy, be cautious. Always talk to trusted friends or family about your situation to get a second opinion.
Limit your exposure: Consider making your social media accounts private to restrict who can view your personal information.

How to Respond
If you suspect you’re dealing with a scammer, cut off all contact and block their phone numbers or social media accounts. Many older adults may feel embarrassed about falling for a scam and hesitate to seek help. If you think you've been scammed, don’t be ashamed—contact your credit union right away to discuss ways to safeguard your account and potentially recover lost funds. Reporting the scam to local law enforcement or even the FBI at http://www.ic3.gov can also help with further investigation and possibly prevent others from becoming victims.

Check out more of our Fraud Fighters blog

Flash Cash Loans

Get a loan in a Flash. Just six clicks to apply and no credit check required (for current Members).

Borrow up to $2,500 for unexpected expenses

Apply Online

Fraud Fighters

Investment & Romance Scams

Only The Best
For Your Children

O Bee Mobile

Fraud Fighters

Investment & Romance Scams

Only The Best For Your Children

O Bee Mobile

Only The Best
For Your Children