Vocabulary

 

 
 
 

Video

 

 
 
 
 

Transcript

 
One of the most costly scams reported to the Federal Trade Commission is the romance scam. In the most recent reporting period, the FTC reports romance scams reached a record $304 million in losses, up 50% from the previous year.

So sad.

On Your Side consumer reporter Don Dare talked with an East Tennessee woman — who nearly gave away her home.

She nearly did, and the total money she lost in this scam is the highest we’ve ever reported.

Romance scams are different from others; they prey on lonely people looking to connect with someone. This scam can often take months to develop to the point where money changes hands — and a lot of money was exchanged in the story you’re about to see.

.     .     .     .     .     .     .     .

It was about nine months ago when Vivian, a recent widow, began corresponding with a guy who said his name is “Mark Walker”. Here’s a picture he sent her on Facebook. It was copied from a real profile.

Vivian, Romance Scam Victim: “He’s a handsome man, yeah. I was calling him my ‘sexy man’.”

Once the man calling himself Mark Walker caught Vivian’s affection, he began the scheme to get her money.

Vivian, Romance Scam Victim: “I started texting and wait, text back and forth, you know, for probably a month before he eventually went to Australia. Gold buying.”

Reporter: “Gold buying?”

Vivian, Romance Scam Victim: “Gold buying.”

Walker told Vivian he made $25 million while there.

.     .     .     .     .     .     .     .

Then he sent a text claiming the law was after him. He needed money. She sent cash at first, sticking the money between pages of a paperback book and mailing it.

Journalist: “How much?”

Vivian, Romance Scam Victim: “$10,000 once. $10,000 a second time. $10,000 a third time. And then I did a $20,000 loan from the bank.

And then at one point, he needed more, and I gave him $30,000. That was my IRA. I maxed out a Visa card, a Discover card. And I cashed in my life insurance policy, which was $3,000.”

Reporter: “Oh my! Now we’re well over $100,000 in total.”

Vivian, Romance Scam Victim: “Yes. Yes”

Journalist: “And he’s still asking you for more money?

Vivian, Scam Victim: “Yes, he’s wanting me to do a collateral loan against my home for $50,000.”

Vivian told us she was unsure whether or not she had been scammed. Could there be hope?

Vivian: “You know, I felt like I had gotten so far invested, I couldn’t stop because I wanted to hope that I would get my money back.”

Journalist: “How were you going to get your money back?”

Vivian: “He was going to give it back to me!”

.     .     .     .     .     .     .     .

The Federal Trade Commission reports that romance scammers create fake profiles and target people through popular social media sites like Facebook or Instagram. They strike up a relationship with their target to build their trust, then they make up a story and ask for money.

Vivian, Romance Scam Victim: “You know, after my husband passed away, I live up here by myself, you know, and I get lonely.”

Aaron Bradley, Area Agency on Aging Director: “It’s one of the most desperate crimes we see because a lot of times folks that have a little bit of money are often lonely.”

Aaron Bradley, Area Agency on Aging Director, says if you suspect a friend or loved one is a victim of a romance scam, have them stop communicating with the person immediately.

Aaron Bradley, Area Agency on Aging Director: “Local law enforcement is starting to look at this more closely because they realize how big a problem it is. They also realize how much money is involved often.”

Reporter:”You contact him and tell him it’s over. You’ll do that?”
Vivian: “Yeah. I will. I’ll tell him it’s the end of the day. Yeah, oh yeah, I will.

Now, we recognize that it may be embarrassing for victims to report this type of scam because the scam is very personal.

And we thank Vivian for sharing her story so others won’t become a victim. We talked with her today. She’s contacted her local sheriff’s department and state investigators who specialize in elder crime.

The romance scam is considered elder abuse under the law. But catching these thieves is difficult.

If you are a victim of a romance scam or believe you may have been victimized by online fraud, file a complaint with the FBI’s Internet Crime Complaint Center.

The website is IC3.gov, or you can call the local FBI field office.

*     *     *     *     *     *     *

 

Questions

 

Fraud, Cheat. This news report was about hackers breaching people’s bank accounts and siphoning off their deposits. True or false?

Lie, Deceive. Vivian is a teenage girl who regularly makes and posts photos, videos and texts on Instagram and Tik-Tok. Is this right or wrong?

Dishonest. Did she meet a teenager wanting to go with her to movie theaters, clubs, discos, parks, restaurants and shopping malls?

Treachery. After “providing” him with $10,000, did “Mark” come and meet Vivian? Did she truly believe and trust “Mark” the whole time?

Con, Con Artist. What is Vivian’s situation now? Is she in dire financial straits?

Swindle, Rip Off. Do the scammers use sophisticated technology to rob their victims?

Steal, Theft. Are the victims mainly tech-savvy people who have multiple streams of income and do lots of online monetary transactions and purchases?
 
 
 
Slick, Manipulate. Have you received fake or suspicious emails, texts, unsolicited calls or invites?

Fine Print. Do you hear a lot about scams and online scams on the news and social media?

Honest, Trustworthy. What do your friends and colleagues say?

Clear, Transparent. Who commits cybercrimes, online and phone scams? What drives or motivates them?

Open, Clear. What has been the trend in cybercrimes, online scams and cybersecurity?

Reputable. What might happen in the future?

Integrity, Probity. What could or should people, tech companies and authorities do?