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Mounties in Richmond warn of romance-investment scams costing some over $16M

Darpan News Desk The Canadian Press, 26 Mar, 2024 12:43 PM

Mounties in Richmond are warning the public after a "significant rise" in romance scams and investment schemes in the city, with a loss of more than $16 million last year.

Police say they received 87 reports of romance crimes in 2023, and the trend continues this year with another 12 cases being reported between January to March with nearly $500,000 lost.

RCMP say these "long-con scams" involve grooming of the victims over weeks or months to nurture the relationship enough to convince them to invest their money in the fraud scheme.

The criminals usually find their victims through dating websites or other social media, and police say they entice them with false promises of profit, and may even show fake returns on initial investments, before their victims are financially ruined.

The scams usually involve cryptocurrencies, and police say they believe the actual number of victims may be higher as some might hesitant to come forward due to embarrassment or fear.

Police say people need to stay cautious and be skeptical of unsolicited contacts, especially from “overly attractive” profiles or strangers who show romantic interests.

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