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By rdnewsNOW Staff

Warning from Better Business Bureau

Romance Scams = Investment Scams

Feb 12, 2026 | 3:37 PM

Prior to Valentine’s Day, the Better Business Bureau of Alberta and East Kootenay is warning  that criminals posing as prospective romantic partners are defrauding people through investment scams.

“Romance scams are investment scams,” says Mary O’Sullivan-Andersen, President and CEO of The Better Business Bureau Serving Alberta and East Kootenay, in a press release. “And now there are reports of more female scammers operating online attempting to defraud the unsuspecting.”

She adds,”Scammers and scam organizations are opportunists, so if they see more men online, then they will have more women posting fake profiles. We have an idea that it’s women only who are being scammed and that’s simply not true. Scammers are the ultimate equal opportunists and they will defraud anyone who they come in contact with.”

The BBB says the criminals behind these scams create fake profiles (known as catfishing) and attempt to quickly enter into a romantic relationship to gain the trust of the intended victims. Once trust has been established, the organization says the scammer will ask the target to consider making a “can’t miss investment opportunity” such as cryptocurrency, or simply ask for money for some other reason.

This is a scam – disengage immediately.

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The Canadian Anti-Fraud Centre reported that in 2024 there was $310 million in investment fraud in Canada. The BBB says it publishes the Scam Tracker Risk Report on an annual basis and in 2023 and 2024, investment scams were ranked as the number one riskiest scam reported in Canada. Officials say the 2025 Scam Tracker Risk Report will be published next month.

“It should be safe on Valentine’s Day, and every day, to go online,” says O’Sullivan-Andersen.  “Unfortunately, fraudsters are also there, so you must know how to protect yourself so you don’t become a victim of fraud; suffering both a financial loss and from a broken heart.”