Love is in the air, they say — well, that might just be the scammers waiting to pocket your money. In this first iteration of Money’s scam roundup, we go over the most notorious schemes you should watch out for this Valentine’s week.

• Catfishes on the prowl: Romance scams are expected to see a big spike in activity come Valentine’s Day. FBI offices in cities like Philadelphia and Jacksonville have already sent out warnings for the public to be cautious of con artists feigning romantic interest to get into your wallet. The elderly are particularly vulnerable to these scams: People over 60 reported $389 million losses in 2024 (the largest of any age group) according to the Bureau’s latest Internet Crime Report.
• Like pigs to the slaughter: Another type of romance scam known as pig-butchering has grown increasingly common. That’s when a fraudster “fattens” up their target by showering them in affection only to later present a supposedly high-value investment opportunity, usually related to crypto. We saw this happen at scale most recently with Jingliang Su, who was sentenced to 46 months in prison for laundering $36.9 million from Americans after befriending them.
• Roses are fake, violets are duds: Sham and impostor stores are popping up, with flowers being the weapon of choice for many scammers. Bouquets are a popular gift for Valentine’s Day, and if you wait until the last minute to order one, you might be a less diligent when checking whether a business is genuine. One victim account on the BBB claims they lost $130.67 after a fake company approved by Google canceled their order immediately but never sent them a refund.

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The most common types of scam you should know

Scammers are constantly upping their game, coming up with new and exciting ways (for them) of fooling their targets. AI-powered scams are one example of this: the technology is being used to reach a larger number of people with increasingly more convincing schemes.

But some tricks never run out of style. Most scams fall into a handful of familiar patterns, and those of yore are still very much a threat today — they’ve just evolved to better fit today’s digital landscape.

1. Imposter scams: Scammers often pose as trusted figures like government agencies, banks, employers and even friends or family to pressure victims into sending money or sharing personal information.
2. Phishing and spoofing scams: 
These scams use emails, texts or phone calls that look like they’re from legitimate organizations. The goal is to trick you into clicking a malicious link, downloading malware or handing over sensitive information.
3. Online shopping scams: Fraudsters can create fake online stores or listings with hard-to-find items at unusually low prices. After you pay for an article, what you end up getting might be counterfeit — or it may never arrive in the first place.
4. Investment scams: This type of scam often arrives with promises of high returns from crypto, forex or other “exclusive” opportunities. Many involve long-term grooming tactics, where victims are encouraged to invest more over time before losing everything.
5. Romance scams: Some scammers try to get into your pocket through the heart. They build a relationship with you on dating apps or social media, then convince you to give up money and assets by fabricating emergencies or investment opportunities.

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What to do if you’re the target — or victim — of a scam

No one is immune to scams or fraud, but a few consistent habits can reduce their danger and the damage they cause.

For starters, be skeptical of unsolicited messages, especially those creating fear or urgency. This might look like an email from your bank threatening to close an account, a text from an online marketplace saying you’ll lose a discount or a call from the IRS claiming they’ll report you to the authorities unless you “act now.”

Scammers love to use this sort of language because it puts the target on the spot, which expects hope will move you to act.

Suffice it to say, always verify any requests from an organization by cross-checking with its official phone numbers, email or website. And don’t click any links, download attachments or respond to messages you suspect may be fraudulent. A legitimate organization will not pressure you for instant action or secrecy.

Now, if you’ve already sent financial information or money
 to someone you suspect is a scammer, you’ll need to jump through some hoops. Contact your bank, credit card issuer or payment platform immediately and attempt to stop or reverse transactions. Make sure to change any relevant passwords and enable multi-factor authentication to safeguard your accounts, too.

Reporting a scam might also help protect others. You can file a report with the Federal Trade Commission (FTC) at https://reportfraud.ftc.gov and with local authorities at your nearby police department or sheriff’s office. Identity theft victims should also consider momentarily freezing their credit.

Lastly, review your financial statements and credit reports regularly, keep your software updated and limit how much personal information you share online. Scammers often rely on publicly available details to make their schemes more convincing.