Some matches are made in heaven, and it seems like Philippines romance scams and cryptocurrency fraud have this kind of relationship. In 2022, cryptocurrencies will be one of the most profitable scam tactics, so it really pays to be cautious.

Long-distance love has been used by scammers to earn people’s trust and then lure them into a cryptocurrency investment fraud. According to a report from the Fair Trade Commission in the United States, around 20% of the money people reported losing through romance scams was delivered in the form of cryptocurrency. The victims believed they were making an investment recommended by their claimed sweetheart, but the whole relationship was just staged to convince the victim into sending cash.

Unfortunately, crime statistics don’t tell the full story. Scammers use online dating to draw people into all kinds of scams. Victims do not only feel inclined to invest because they trust their romantic partner. They see a hot opportunity to make money fast, and act on without verifying the legitimacy of the deal first, or the background of the person they are dating. Many feel ashamed of being deceived, so they don’t even report it to the authorities, hence the reason why the statistics do not reveal the truth about the magnitude of the losses.  Philippine PI investigators are working on romance-crypto cases on a daily basis.

Regardless of the methods or stories used by fraudsters, verifying people’s identities and backgrounds is an effective strategy to stay protected from them. Scammers modify their methods, so it is pointless to focus on very particular red flags. The best way to know if you are dealing with a scammer or a fake deal is to obtain real evidence from reliable sources, which is why conducting a thorough background check in the Philippines is key.

The majority of victims begin looking for a dating background check investigation once they have already sent the cryptocurrency and more requests for money still coming their way. Things begin to get clear, but by that time they most certainly will never see the funds again. To be safe people cannot ignore the dangers and decide ahead of time that their scenario is not a hoax. Verifying first and then deciding is the safest way around Filipina dates, as scammers have amassed a lot of resources to be convincing. Private investigators stress that uncovering fraud requires clear evidence from real investigation.

Fraudsters might request a cryptocurrency payment with the excuse to pay for their basic necessities or to participate in a business together. They could mention a variety of reasons for preferring crypto, ranging from making it easier to receive money to saving on currency rates or having difficulty getting it through their bank accounts. Whatever the justification, don’t believe it and double-check before doing anything you’ll regret.

Philippines romance scammers are astute, technologically savvy, and will employ all of their resources to their advantage. No one can afford to lose their hard-earned money, so it will always pay to know if that stranger can be trusted before transferring crypto to them. Keep in mind there is no way to track digital wallets once the money is gone.

Contact us for a free quote today if you need to verify someone in the Philippines, and share this information with friends or relatives who may need it!

C. Wright

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