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These types of romance scams have previously proved to be effective вЂ“ in 2019, for instance, a fraudster managed to bilk a vulnerable Jason Statham fan out of a вЂњsignificant amountвЂќ of money, after approaching her while she was perusing a fan page for the actor on Facebook. However, scams that target the emotions of victims looking for love are another category of security challenges that dating apps need to deal with вЂ“ especially during the isolating times of a pandemic.

If someone is particularly keen on finding a connection on one of these apps, they will likely be more willing to do whatever the malicious actor tells them to do.вЂќДating apps like Match and Tinder have previously been criticized for their privacy policies and for various security issues. вЂњBeyond dating apps, an attacker could bring this campaign to gaming, shopping, workout or travel apps that have a social component to them. вЂњSince thereвЂ™s already a picture, profile and name associated with the person in a dating app, establishing trust is a much smaller barrier for the attacker,вЂќ Schless told Threatpost. Hank Schless, senior manager of security solutions at Lookout, told Threatpost that malicious attacks launched through dating app platforms вЂ“ like scams or phishing вЂ“ highlights how mobile apps with a messaging function can be leveraged by malicious actors. However, after scamming victims out of a certain amount of cash, one day all contact stops and victims are locked out of their accounts.В The financial impact of such a scam is not insignificant: An Interpol spokesperson told Threatpost that some victims had deposited tens of thousands of dollars, with a few cases even exceeding $100,000. вЂњScreenshots are provided, domain names are eerily similar to real websites, and customer service agents pretend to help victims choose the right products.вЂќ вЂњAs is often the case with such fraud schemes, everything is made to look legitimate,вЂќ said Interpol. They are made to believe they can reach вЂњgoldвЂќ or вЂњVIPвЂќ status, said Interpol. Of course, they are just manipulated figures which encourage victims to deposit more.вЂќДЇrom there, victims are convinced by the scammers to purchase various вЂњfinancial productsвЂќ вЂ“ including cryptocurrencies, stocks and bonds and binary options вЂ“ and work their way up a so-called investment chain.

The apps then show earnings/profits within a very short timeframe, making victims believe they have made the right decisions and are trading successfully. вЂњThey are made to look and function like similar (legit) apps, where investors can deposit money in order to start trading. вЂњThe investment apps вЂ“ and in some cases web links вЂ“ proposed to victims are under the control of criminal enterprises,вЂќ a Interpol spokesperson told Threatpost.

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They then convince the victims to download an app, purporting to be a trading app, and open an account.

вЂњOnce communication becomes regular and a certain level of trust is established, criminals share investment tips with their victims and encourage them to join a scheme,вЂќ according to Interpol. In the first stages of the scam, the scammers establish a relationship with the victims via a dating app (Interpol did not specify which specific dating app platforms are leveraged by attackers).

A Purple Notice is issued by Interpol toВ provide information on modus operandi, objects, devices and concealment methods used by criminals. вЂњInterpolвЂ™s Financial Crimes unit has received reports from around the world of this scam and is encouraging dating app users to be vigilant, be skeptical and be safe when entering into online relationships,вЂќ according to Interpol, in aВ вЂњPurple NoticeвЂќ advisory sent toВ 194 countries. Click to Register вЂ“ New Browser Tab Opens

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