Romance scams are more common than you might think, and they can really sting – not just your wallet, but your heart too. In 2024 alone, Australians lost over $23.5 million to these scams, making romance scams the second most financially damaging type of scam in Australia.

How do they work?

Cybercriminals create fake profiles on dating sites and apps, using stolen pics and made-up stories. They’ll shower you with affection and quickly try to move the conversation off the platform to avoid getting caught. They usually play the long game, building trust for weeks or even months before hitting you with a sob story and asking for money. Or, they might try to turn you into a “money mule,” tricking you into moving money illegally for them. This can have devastating consequences, leaving you heartbroken and facing potential legal action. 

Scammers also target individuals seeking friendship, posing as a sympathetic friend, sharing similar interests and mirroring their victim’s behaviour to build trust. Once trust is established, they use guilt, flattery, or coercion to manipulate their victim into sending money or providing personal information.

Here's how to spot a scammer:
  • Too good to be true? Be wary of profiles that seem perfect or avoid video calls.
  • Moving too fast? If they’re declaring their undying love after a few chats, proceed with caution.
  • Sob stories and excuses? Be suspicious of sudden emergencies or reasons why they can’t meet in person.
  • Secretive about their life? If they discourage you from talking about them with friends and family, that’s a red flag.


What to do if you spot a scammer:
  • Report it! Contact us if you’ve shared any payment or personal info.
  • Protect yourself: Block the scammer and cease all contact.
  • Help others: Report the scam to Scamwatch to help prevent others from falling victim.

Remember, your bank will NEVER ask for your personal or banking details via email or text. Stay smart, stay safe, and don’t let these romance scammers ruin your day (or your bank account!).

Customer-owned banks are dedicated to safeguarding their customers from scams and fraud. In November 2023, 55 mutual banks and credit unions demonstrated this commitment by joining forces to launch the Scam-Safe Accord. This industry-wide initiative represents a united front against scammers and reinforces the banking sector’s determination to strengthen consumer protection. Find out more about the Scam-Safe Accord here.