Romance Scam Alert Issued in New Mexico Ahead of Valentine’s Day

As New Mexicans prepare to celebrate Valentine's Day, state officials are cautioning against the potential heartbreak of falling victim to romance scams prevalent on online dating platforms.

The New Mexico Securities Division has issued a warning highlighting the risks associated with online dating sites, urging consumers to be vigilant against scammers who exploit emotions to manipulate and steal from unsuspecting victims.

Romance scams, characterized by perpetrators adopting fake online identities to engender affection and trust, pose significant financial risks to individuals, particularly the elderly. Benjamin Schrope, Acting Director of the New Mexico Securities Division, emphasized the importance of awareness, stating, 'Romance scams are unfortunately all too common in today's online dating world.'

Key warning signs outlined by the Securities Division include reluctance to meet in person, discussions of wealth or business success, and pressure to provide financial assistance or invest in dubious schemes. The Division also advised conducting online searches and insisting on in-person or video meetings to verify the authenticity of individuals encountered online.

According to data from the FBI, romance scams affected more than 170 victims in New Mexico in 2021, with losses totaling nearly $1.5 million.

Special Agent in Charge Raul Bujanda of the Albuquerque FBI Division cautioned against the devastating impact of such scams, particularly on vulnerable demographics, noting that many victims are too embarrassed to report their losses.

The FBI highlighted the emergence of new tactics such as 'pig butchering,' wherein scammers lure victims into cryptocurrency investments through fabricated websites promising high returns. Victims, once invested, find themselves unable to withdraw funds as scammers vanish with their money.

To safeguard against romance scams, individuals are encouraged to educate themselves on warning signs, avoid sharing personal information online, and remain skeptical of requests for financial assistance from online acquaintances. If victimized, the FBI urges reporting incidents to the Internet Crime Complaint Center at ic3.gov.

As Valentine's Day approaches, authorities emphasize the importance of vigilance and caution in navigating online relationships to avoid becoming victims of deception and financial exploitation.

For further assistance or to report investment scams, individuals can contact the New Mexico Securities Division at 505-476-4580 or visit rld.nm.gov/securitiesdivision/ enforcement.