The Spanish Securities Commission (CNMV), through the Finanzas Para Todos initiative, published an information alert warning of a rise in online romance scams across social networks, instant messaging apps and dating platforms. The CNMV flags that these “affective” frauds are becoming more sophisticated through the use of artificial intelligence to create more credible fake profiles and seemingly real conversations, with the aim of extracting money from victims. The alert describes a typical pattern in which scammers rapidly build emotional dependence and then request funds using excuses such as emergencies, health issues, travel costs or supposed financial investment opportunities. It sets out 10 red flags, including rushing intimacy, repeated reasons not to meet in person, avoiding video calls, pushing conversations off-platform, introducing money and “guaranteed” high-return investments, creating urgency, directing victims to little-known investment platforms, obstructing withdrawals with fabricated errors or fees, and encouraging secrecy from family and friends. Recommended steps include ending contact immediately, blocking and reporting profiles, not sharing personal or financial data, avoiding unsolicited financial recommendations and dubious software downloads, and not paying to “unlock” funds; suspected victims are advised to preserve evidence and report to law enforcement and the CNMV via its investor enquiries channel. The CNMV notes that Meta closed 12 million accounts linked to scammers on Facebook, Instagram and WhatsApp in the first half of the previous year.

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