By Becky Ross, Head of Marketing, Carefull
It started with sweet words online. It ended with more than $3 million gone.
In a disturbing reminder that romance scams remain a serious threat, especially to older adults, a federal jury found a Georgia man guilty in a sweeping romance scam that stole the hearts, and bank accounts, of victims across the country.
Kenneth G. Akpieyi was convicted on multiple federal charges including mail fraud, wire fraud, and money laundering after orchestrating a scheme that drained more than $3 million from unsuspecting individuals.
Let’s break down how the romance scam happened, and what you need to know so it doesn't happen to you:
- How: Akpieyi and his co-conspirators posed as military officers, philanthropists, or entrepreneurs on Facebook,
Instagram, and similar platforms to woo victims – mostly women – in emotional online romances. - Tactics: After gaining trust via social media, scammers moved conversations to encrypted platforms like WhatsApp, then would claim financial emergencies – like sick relatives or charitable causes – to extract money.
- Money trail: Victim funds were sent to Akpieyi under his alias, then routed through his business. On one occasion, he deposited two checks totaling $300,000, both from the same victim, into two different banks the same day to avoid detection.
- Scope: Eight victims testified to a collective loss of over $3 million.
Romance scams often target seniors by exploiting emotional connection and trust, especially on social media. This scam demonstrates how smooth, emotionally compelling stories can lead to devastating financial loss.
Five Warning Signs of Romance Scams
To help keep you, a loved one, or a credit union member safe, watch out for:
- Fast declarations of love: “I love you” after only days, even if the connection feels genuine.
- Requests for money: Any story invoking emergencies is a red flag: medical, legal, travel-related, charity donations.
- Efforts to move off social media: Pressuring you to WhatsApp or encrypted platforms is often a red flag.
- Secretive or inconsistent stories: Fabricated backgrounds, like being abroad in the military or philanthropy, are common fronts.
- Strange money requests: Being asked to send funds via checks, gift cards, wire transfers, or to funnel them through a company is almost always a scam.
What You Can Do
- Slow down the conversation: Real relationships aren’t rushed, especially online.
- Verify identities: A quick reverse image search of their profile picture or fact-check of their stories can help spot red flags.
- Never send money: Especially not via wire transfers, gift cards, checks to companies, or to someone you’ve never met in person.
- Talk it over: Run any suspicious requests by trusted family members or friends.
- Use technology: Use a technology platform like Carefull to help pick up on the warning signs of romance scams.
- Report it: The FBI’s Internet Crime Complaint Center (IC3), the Federal Trade Commission, and your local law enforcement can help.
This case is more than just a crime story; it’s a critical lesson. Protect your heart and your wallet.
This is more than a headline; it’s a story of what your members are facing every single day. Romance scams don’t just make the news; they quietly impact households and drain life savings, often before anyone realizes what’s happening. This article illustrates both the emotional and financial toll these scams take, and it’s a resource you can share directly with your members to help them spot red flags, protect themselves, and know where to turn for support.
Connect with Carefull to schedule a demo and learn how to protect your members from romance scams.
