What are Romance & Investment Scams?
At Prospera Credit Union, we’re here to help you navigate life’s big decisions—including how to protect you and your finances from fraud. One of the fastest-growing threats we’re seeing right now is a heartbreaking combination: romance scams and investment scams. Sometimes they’re separate—and sometimes they’re cleverly combined.
Here’s what you need to know, how to spot the warning signs, and what to do if you think you or someone you care about is at risk.
💔 What Is a Romance Scam?
A romance scam happens when someone builds a fake online relationship with you in order to gain your trust—and eventually, your money. They might pretend to be working overseas, deployed in the military, or simply "too busy" to meet in person.
Once you’re emotionally invested, the requests start:
- "Can you send money so I can fly to visit you?"
- "My wallet was stolen—can you help me out?"
- "I want to start a life with you. Can you invest with me?"
These scams can go on for weeks, months, even years before the truth comes out.
💰 What Is an Investment Scam?
Investment scams promise high returns with little or no risk—often in cryptocurrencies or exclusive “insider” opportunities. They may look legitimate, complete with websites, dashboards, and testimonials.
Recently, fraudsters have begun blending romance with investment, saying things like:
- “You should really try this crypto trading app I use. I’ll show you how.”
- “My cousin made thousands—let me help you get started.”
These platforms are fake. Once you send money, it's gone.
🚩 Red Flags to Watch For
Whether it's love or money (or both), watch for these warning signs:
In Romance Scams:
- They avoid meeting in person or video chatting.
- They quickly express love or strong feelings.
- They create emergencies that require financial help.
- They ask for money through wire transfers, gift cards, or crypto.
In Investment Scams:
- They promise “guaranteed” or unusually high returns.
- They push you to invest quickly or keep it a secret.
- They ask for payment in cryptocurrency or untraceable methods.
- You can “see” your money grow on a fake dashboard—but can’t withdraw it.
🛑 If You Think It’s Happening to You
You’re not alone—and there’s no shame in being targeted. These scammers are experts at what they do. Here’s what to do:
1. Stop All Contact Immediately
Cease communication with the individual or company. Do not send more money or provide any more information. Place a freeze on your credit card and turn on the fraud alert.
2. Don’t Send More Money to ‘Get Your Money Back’
Scammers will often offer fake solutions like “processing fees” or “taxes” to release your funds. It’s part of the scam.
3. Report the Scam
- To your credit union: Contact us right away—we may be able to help protect your accounts.
- To the FTC
- To the FBI (for online scams)
- Contact Experian, Equifax and Transunion credit bureaus to place a fraud alert.
4. Talk to Someone You Trust
Scammers isolate victims. If you’re unsure, talk to a trusted friend, family member, or your Prospera team.
💚 We’re Here to Help
At Prospera Credit Union, your security matters to us. If something feels off, even if you’re not sure it’s fraud, reach out. We’re always here to offer personal guidance and help connect the dots on your financial journey—safely.