Grand Canyon Times

As Valentine's Day approaches, the Arizona Corporation Commission's Securities Division has issued a warning about romance scams targeting individuals seeking love. These scams often begin on dating apps and social media, where scammers send unsolicited messages to potential victims.

The scam typically involves the perpetrator building a relationship with the victim, claiming to live far away and providing excuses for not meeting in person. Initially, they may request small amounts of money for personal emergencies or travel expenses. Eventually, they encourage victims to invest in seemingly lucrative opportunities, often pushing for quick action to avoid missing out. Payments are usually requested in cryptocurrency or gift cards, making them difficult to trace.

Once the scammer has extracted as much money as possible, they disappear, leaving victims with financial losses and emotional distress. Victims can file complaints with the Commission's Securities Division, which can investigate and potentially take legal action.

Warning signs include rapid declarations of love—referred to as "love bombing"—and moving conversations to untraceable chat forums. Some companies owning these platforms have been uncooperative with subpoenas from the Commission.

For more information on protecting oneself from such scams, individuals are encouraged to visit the Commission’s investor education website at azcc.gov/azinvestor.