Online connections can feel exciting and real, and in a time of dating apps and social media, it's never been easier to meet someone virtually. However, while some connections can be genuine, there are numerous others that turn out to be carefully planned scams.
Romance scams are designed to build trust quickly, taking advantage of emotions to manipulate you to hand over your money. These cybercriminals often hide behind fake photos and profiles, and in some recent cases, they have even turned to artificial intelligence to impersonate famous personalities.
According to data from Scamwatch, romance scams were among the top three most financially damaging type of scam in Australia in 2025. Nearly 3,500 romance scams were reported last year, resulting in more than $28.6 million in losses.
With Valentine's Day right around the corner, COBA Head of Financial Crimes and Cyber Resilience, Martin Latimer, shares their expert tips on how Queensland Country Bank Members can spot and avoid these kinds of scams.
What romance scams may look like
In these scams, cybercriminals create fake profiles online, using stolen photos and fabricated identities, sometimes even impersonating celebrities. They 'make the first move' and initiate contact with their target, showering them with affection and gradually building a rapport.
Typically, scammers quickly move conversations onto private channels like texts or emails, which helps them avoid detection and gives them more control over the interaction.
Some scammers may ask for money immediately while others may invest weeks, months, even years, to cultivate trust and a seemingly genuine relationship. This makes it even harder to recognise the scam, as the victim truly believes they are in a committed relationship.
Notably, these scams aren't limited to just romantic relationships, as scammers may also target individuals looking online for friendship or support. They may pose as a sympathetic friend, sharing similar interests and mirroring their victim's behaviour to build trust.
"Once they've gained their victims' trust, they start asking for money, with seemingly reasonable excuses such as needing the funds for an emergency, or to arrange a visit." Latimer elaborates.
"Such scams are also becoming increasingly sophisticated. It means some criminals aren't just after your money, but they may involve you in illegal activity by turning you into a 'money mule'."
"The scammer may manipulate you into holding, or transferring, large sums of money under the guise of helping them. These actions can have serious consequences, including emotional distress and potential legal trouble," Latimer said.
"Be cautious if your online 'sweetheart' asks you to transfer funds, release money, or handle any kind of suspicious financial transaction. Protect yourself by refusing to get involved and reporting any concerns to the authorities."
Spotting the red flags
There are some common indicators that can help you spot a potential romance scam.
- Be wary of profiles and photos that seem too good to be true, especially if the person's online presence is limited.
- Keep an eye out if they try to dodge phone calls or video chats, with excuses about technical difficulties or other issues, or if they make justifications about why they can't meet in person or access their own money.
- Note any inconsistencies in the chats or on their profile, and whether they try to build a bond quickly by expressing love and affection very early on.
- Be hesitant if the person you are speaking with mentions an issue that requires money urgently to solve (common themes are medical, family or country-visa related).
- Some scammers may even try to discourage you from discussing the relationship with friends and family, isolating you from those who could offer support and potentially identify the scam.
As with all online interactions, you can protect yourself by adopting the Stop - Check - Protect mantra. Take the time to verify information, don't share intimate details or photos, avoid sharing personal and financial information when it's not necessary, and trust your instincts if something feels off.
What to do if you suspect you've been scammed
If you encounter a suspected romance scam, it's crucial that you act quickly. With romance scams, the requests for money are often repeated until the victim stops sending money, or the scammer may disappear when funds have run out or no money has been sent.
If you think you may have been affected by a scam, report it to yourlocal branchor our Contact Centre on1800 075 078 immediately so we can take steps to protect your accounts further. You should also report it to your local police and phone the ACCC Info Centre direct on 1300 302 502 during normal business hours to report the scam.
Even if you haven't lost any money, reporting the scam helps prevent further fraud and can assist other potential victims.
“Remember, this might be your only relationship but typically the scammer will be in a relationship with many people at the same time,” Latimer warned.
Queensland Country Bank is a proud Member of the Customer Owned Banking Association (COBA), and the Scam-Safe Accord. As a Member-owned bank, customers are at the core of what we do and we are committed to fighting scams and protecting our Members’ money.
Source: https://www.scamwatch.gov.au/