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73-Year-Old Widow Drains Her 401K and Personal Savings in Romance Scam
World Romance Scam Prevention Day is Your Chance to Help Others
Seth Combs
October 03, 2024
If you’ve been a victim or know a victim, please contact us and we will try to assist
Quick Overview
Spread the Word: It’s World Romance Scam Prevention Day
October 3rd is World Romance Scam Prevention Day, started by Kathy Waters and Bryan Denny at Advocating Against Romance Scammers. Their goal is to raise awareness, advocate for victims, and provide ongoing support.
Last year, Tinder partnered with Advocating Against Romance Scammers with the following video. It’s fun, short, and hits on some key telltale signs that you may be getting scammed.
As I mentioned in last week’s newsletter, romance scams continue to grow and take new forms. Scammers are using the latest technology to impersonate people, celebrities, and more. Check out this video from entrepreneur, speaker, and author Larry Broughton, whose identity has been used by scammers to lure victims.
Romance scams are a growing threat, especially to seniors. By staying informed and vigilant, you can protect yourself and your loved ones from falling victim to these deceitful schemes. Remember, if something seems too good to be true, it probably is. Stay connected, verify information, and don't hesitate to seek advice.
This year, take a minute to check in with loved ones and spread the word about romance scams.
Stay safe out there,
73-Year-Old Widow Drains Her 401K and Personal Savings in Romance Scam
Understanding Romance Scams
Romance scams are a form of online fraud where criminals create fake personas to build relationships with unsuspecting victims. These scams often target emotionally vulnerable individuals, particularly seniors who may feel isolated or lonely. According to the Federal Trade Commission (FTC), romance scams resulted in over $304 million in losses in 2020 alone.
How Do These Scams Work?
Fake Profiles: Scammers create fake profiles using stolen photos and false information to appear attractive and trustworthy.
Building Trust: They invest time in building an emotional connection, often communicating for weeks or months to gain the victim's trust.
Isolation: Scammers often attempt to isolate their victims from friends and family to avoid exposure.
Requests for Money: Eventually, they fabricate crises or emergencies requiring financial assistance, manipulating victims into sending money.
Warning Signs to Watch For
Quick Progression: The relationship moves unusually fast, with declarations of love or affection early on.
Avoiding Personal Interaction: The scammer avoids video calls or in-person meetings, often citing convenient excuses.
Financial Requests: Requests for money, often framed as emergencies, medical expenses, or travel costs.
Inconsistencies: Stories that don’t quite add up or frequent changes in personal details.
Real-Life Impact: Gloria Mooney’s Story
Gloria Mooney, a 73-year-old widow from New Jersey, fell victim to a heart-wrenching romance scam that drained her of over $50,000.
Gloria Mooney, image from her GoFundMe page
After losing her husband in 2010, she faced significant emotional hardship, compounded by severe injuries from car accidents in 2021 and 2023. During her recovery, her son explains that Gloria became susceptible to the scammer's manipulations.
“Around the middle of June, it all started to unfold. My mom told me she made a “friend” on Facebook. With my mind spinning and red flags going off I began to ask questions. "His name was Henry, he works on an oil rig in the Pacific and we talk online."
My stomach became twisted and I immediately asked to see his profile, which I could tell was fake. I tried to explain it to her but she wasn’t receptive. I immediately called my brother, who came over the next day, and we explained to our mom that this was not a real person. After an hour or so, she said she understood and she wouldn’t talk to him again. This very same situation happened four more times over the next three months - each time becoming more and more difficult to deal with on our end and to try and explain. This situation put incredible strain on our relationship with our mom and with our significant others.
In October, I opened a letter from her bank thinking it was mine. It says she is late with her payment. This made no sense to me as she always paid bills on time, even early, and had a great credit rating. I asked for permission to review her financials. Upon reviewing her accounts, my heart dropped and all I could do was cry in anger and disbelief.
My mom was truly convinced this "Henry" was a real person; this entity used her kindness, her compassion - all of her qualities against her. They managed to convince my mom they loved her, would take her away, and be happy together. They fed off her loneliness and grief and convinced her to send money online over and over for several months, promising that she would "get everything back and more." This included sending gift card codes, Bitcoin, and wire transfers. They manipulated her so much that she withdrew her 401k and personal savings to a sum of over $50,000!!!”
By the time her son, Ben DeSilva, discovered the financial irregularities, it was too late. Local police and the FBI traced the scam to Nigeria, but recovering the lost funds proved impossible.
Ben has started a GoFundMe page to help his mother.
Protect Yourself and Loved Ones
Steps to Take
Educate Yourself: Understand how these scams operate and the tactics scammers use.
Verify: Be skeptical of online relationships and verify personal details through video calls or in-person meetings.
Consult Family: Discuss new relationships with family or friends to gain a second perspective.
Report Suspicious Activity: If you suspect a scam, report it to authorities immediately.
Support Systems
Therapy and Counseling: For emotional recovery, consider seeking professional help.
Financial Management: Consult with a trusted financial advisor to monitor and protect your assets.
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