In this episode, A.B. Ridgeway discusses the rise of romance scams, including a particularly devastating case involving a retired healthcare executive, "Sue," who lost $2.5 million. A.B. breaks down the tactics scammers use, from emotional manipulation to financial exploitation, and offers insights on how to protect yourself from falling victim. Sue's story is a cautionary tale that underscores the psychological depth of these scams and the importance of recognizing red flags early.

3 Key Takeaways:

Romance Scams Target Vulnerabilities: Even intelligent and financially savvy individuals can fall prey to romance scams, as these scams prey on emotional needs and loneliness.
Psychological Manipulation is Key: Scammers build trust over time by feigning love and affection, making victims feel they are in an intimate relationship, which makes them more susceptible to giving away personal and financial information.
No One is Immune: Whether you are wealthy, educated, or experienced, anyone can become a victim of these scams. It's important to stay vigilant and question the authenticity of online relationships, especially when money is involved.

3 Quotes:

“They fatten you up with compliments and how wonderful you are right before they slaughter you and take all of your money.”
“It’s not just dumb people getting scammed. Anybody can fall victim to this stuff.”
“The reason they feel like somebody that you know is because you’re sharing your personal information. They’re using it to leverage more information out of you.”

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Video/Audio Credit: CBS Sunday Morning