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Online financial scams are on the rise and tricksters are becoming more sophisticated and innovative, according to John Manyike, Head of Financial Education at Old Mutual.“During this month of love remember to protect not only your heart, but your pocket as well.

“Sadly, million was reported lost to romance scams in Australia last year by 1,032 people.“Signing up to dating websites has proven successful for many singles seeking a match.Unfortunately it has also proven popular among scammers who prey on people’s vulnerabilities to steal their money, particularly around sentimental times of the year.” “Scammers are experts at preying on people’s weaknesses and will spend months and even years grooming victims and lowering their defences.and other match-making sites have no effective way to screen or verify all users, so be aware that there are criminals mixed in with the honest members, and these criminals are actively looking for victims.Their objective is to gain your trust, win your love, and then steal your money or your identity. Experts advise never to reveal your personal information online to anyone not known personally.

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More and more innocent people are being scammed by clever con artists who prey on unsuspecting people.

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