Falling for Fraud: BOQ Group’s Romance Scam Warning

12 February 2025

Despite romance scams declining in Australia and authorities actively addressing this issue, BOQ Group is urging customers to stay alert to avoid falling victim.

Romance scammers use dating or friendships to steal your heart and your money. They typically create fake online identities designed to lure you in. Once they’ve gained your trust, scammers use your newfound relationship to request that you send them money or gifts or gain your assistance in transferring their money.

BOQ’s General Manager of Financial Crime, Benjamin Hargreaves said: “With Valentine’s Day just around the corner, we’re encouraging our customers to remain vigilant against scammers in all aspects of digital life.

“Romance scams often leave victims struggling with significant emotional trauma. Not only do they have to deal with the financial impact, but they also must come to terms with the realisation that the relationship – which may have been cultivated over months or even years – is not real.

“Safeguarding our customers from fraud and scams is one of BOQ Group’s key priorities. As a bank, we're significantly investing in our fraud technology uplift every year and collaborating with government and industry, including the Australian Banking Association’s Scam-Safe Accord.”

How to Spot a Romance Scammer

If you're talking to someone new online, watch out for these common signs of a scammer:

• They 'love bomb' you very quickly, expressing strong feelings in a short period.
• They try to move your conversation to a new platform, such as from a dating app to other communications platforms.
• They encourage secrecy about your relationship to isolate you from family and friends.
• They constantly make excuses for why they can't meet in person or talk on camera.
• They have a sudden 'emergency' that requires financial help, such as a physical injury, illness, travel costs, or a family emergency.

How to Protect Yourself

• Never send money to people you haven't met. If your online connection asks for money, stop all contact immediately. Do not send money or share any personal or financial details. Never agree to transfer money on their behalf, as this could be considered money laundering and is a criminal offence.
• Verify the person's identity. Ask a lot of questions and watch out for inconsistencies. Fake profiles often have photos that look too professional, very little information, and few comments, likes, or shares from others.
• Be cautious about what you share with anyone new online, including images or pictures of yourself, as these can be used for blackmail. Never share details of your identity documents, such as your driver’s licence, Medicare card, or passport, or share your bank account or credit/debit card information.

For more information on how BOQ protects customers or what to do if you think your account is at risk, visit boq.com.au/fraud-and-scams. BOQ also recommends other government and industry supports such as Scamwatch, IDCARE, and The Australian Cyber Security Centre.

For any media enquiries, please contact: mediarelations@boq.com.au