Beware of romance scams, catfishing online

Romance scams are run by criminals posing online as eligible partners, but with the intention of coercing money from victims.

In Australia, more than $40 million was lost in romance scams in 2022, according to the Australian Competition and Consumer Commission's Scamwatch.

Romance scams accounted for only 15 per cent of Australian scams, but the category made the second highest financial loss overall, the Scamwatch report said.

The AFP warns men and women are susceptible to these frauds, but women tend to give over more money -- contributing 68 per cent of all losses in 2022, about $27 million.

"Scammers have become highly sophisticated and are going to extreme lengths to trick their victims and gain their trust to obtain money,'' AFP commander cybercrime operations Chris Goldsmid said.

Be conscious of red flags this Valentines day and know the signs of a romance scammer.

The AFP warned some common examples of potential scam behaviour included: pretending to live overseas, dominating the victim's time with long conversations, confessing love quickly, feigning the inability to use video call and manufacturing a crisis that required financial support.

"We all like to think that we're too smart to fall victim to a romance scam, but the truth is that scammers are more cunning than ever and have become extremely difficult to spot," Commander Goldsmid said.

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Criminals are allegedly using dating apps for complex scams, not just defrauding people financially, but involving victims in money laundering and transporting illicit drugs, AFP said.

"If you think you've fallen victim to a scam you should gather as much information as possible about the fraud, contact your financial institution and report it to the police," Commander Goldsmid said.

"Don't be ashamed to talk to you family, friends, neighbours and co-workers about your experience. Doing so may prevent someone else from becoming a victim," he said.