Romance Scams & Account Takeover Fraud: How to Spot and Prevent Them
7/27/2026 3:09:50 PM
Unfortunately, bad actors are constantly finding new ways to take advantage of new victims in an effort to steal from them. In today’s world of modern technology, their approaches are getting more sophisticated and harder to immediately detect. Here are two of the most common types of financial fraud that we have been seeing recently, with some tips on how to detect and prevent them.
Romance scams continued to escalate in 2025, with the Federal Trade Commission (FTC) recording 55,604 complaints in the first nine months alone, totaling over $1.16 billion in losses, according to a report published by Global Dating Insights: https://www.globaldatinginsights.com/news/romance-scams-outpace-other-fraud-types-at-1-16-billion/.
What Is a Romance Scam and How Does It Work?
A romance scam is a type of online dating scam where a criminal builds a fake romantic relationship to steal money. Here’s how it typically works:
- Initial Contact – Scammers will send friendly messages through dating and social media apps or text messages. WhatsApp is often used as a communication channel.
- Build a quick intimate connection – They will claim to have strong feelings and seem to come on strong and fast creating a prompt sense of attachment.
- Build Trust – Will use constant contact as a way to build legitimacy of the connection over time. Share stories and hardships.
- Isolation – Scammer will convince victim to be discreet and promotes secrecy so they don’t talk about their relationship to friends or family.
- Request for money
- Working or in the military overseas, need money to get home
- Stolen passport
- Need help with medical expenses for themselves or a family member
- Fees for legal troubles
- Need startup money for a business to go in on together
- Purchase a house and claims to move in together/Money is for a downpayment
- Withdrawal Channels – wires, cryptocurrency, gift cards, withdraw cash and deposit into a Bitcoin ATM or they will send a courier to pick it up.
- Capitalize – The scammer disappears or continues to ask for more money.
- Reasons the scammers ask the victims to tell the banks for their withdrawals
- Home renovations
- Car purchase
- Family Emergency
- Investment
New Twists and Tactics
Artificial Intelligence (AI) Scams
- Scammers use AI-generated photos to look very realistic.
- Voice cloning to mimic celebrities and to sound consistent on calls.
- Deepfake video calls that cover the scammer’s real identity.
- AI and autogenerated scripts used for chats to keep up with consistency.
Pig Butchering (Crypto Scam)
- Scammers introduce an investment opportunity, claiming to already have made money and show screenshots, fake dashboards or referral links to fraudulent trade platforms. This will get the victim to send more to invest and then the scammer will suddenly cut off all communication and disappear. The fraudulent website/platform is taken offline, leaving the victim no access to their investment or any way to contact the scammer.
Warning Signs and Red Flags of a Romance Scam
- They live far away, can’t meet in person.
- They shower you with attention. They are in constant contact with you, almost too much.
They avoid sharing details with you, and avoid being seen in person or on video.
How to Protect Yourself
- Keep your social media account set to private.
- Remember, never send money no matter how desperate their claim sounds.
- Block uninvited communications.
- Talk to friends and family members – discuss new love interests with them.
- Do a reverse image search
- This is an online tool that reveals information such as when and where a photo was taken, who took it, and where it appears online. With Google Image Search, click its camera icon and then drag or upload an image. You can also paste a web address.
- Visit Kearny Bank’s Security Center for more fraud prevention tips and resources.
What is Account Takeover Fraud (ATO)?
- Cybercriminals use stolen credentials to gain access to a victim’s account to withdraw money, make purchase or steal information to sell or use to access other accounts.
The FBI's Internet Crime Complaint Center received 4,700 ATO complaints totaling $359.7 million in losses in 2025.
How Do Criminals Get Your Account Information?
- Data breaches.
- Phishing – tricking victims into giving account information and PII using fake texts, emails, and phone calls. AI has made it easier for criminals on phone calls to make victims think they are talking to a real person.
- Malware – installing a malicious code to steal and collect data.
Social Engineering – tricking victims into giving out their account information or login credentials including one-time passcode (OTP) or multi-factor authentication (MFA) code by impersonating a bank employee, customer support or tech support. They may say there are fraudulent transactions on your account or your device is compromised.
How to Prevent Account Takeover Fraud
- Continuously monitor your accounts through online banking. Look for changes to contact information or account settings, unexpected login attempts or access patterns.
- Think Before You Click – do not click on suspicious links or attachments in emails, texts or ads. Do not respond to messages out of fear or urgency. This is a common tactic by the scammers.
- Create Strong Passwords – do not reuse passwords. Use a password manager app to safely save passwords.
- Use multi-factor authentication (MFA) and biometrics (fingerprint; face ID) on all accounts and phones.
- Safeguard Your Credit – Place a fraud alert or credit freeze with all three bureaus even if you have not fallen victim to a scam. Monitor your credit.
- Sign up for ID Theft Protection – programs that will monitor your credit report, social media accounts, the Dark Web, USPS change of address, etc.
Do not log in to secure accounts while using public Wi-Fi.
What To Do If You Fall Victim to ATO?
- Report the fraud to your bank, company or agency involved. Close any compromised accounts.
- Change usernames and passwords.
- File a complaint with the FBI’s Internet Crime Complaint Center.
- File a police report.
- If not already done so, place a fraud alert and/or credit freeze with all three credit bureaus.
If you clicked on any suspicious links, shut your computer or device down and have it checked by an IT professional or purchase a new device.
Bank Securely with Kearny Bank
Staying alert is your best defense against romance scams and account takeover fraud. As scammers continue to adopt more sophisticated tactics, taking a few proactive steps, guarding your personal information, enabling multi-factor authentication, and pausing before you act on any urgent request, can go a long way toward keeping your money and identity safe.
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