Romance scam victims in Latvia lose tens of thousands of euros; largest loss approaches €100,000

The number of romance scams in Latvia is increasing, with victims, predominantly women, losing tens of thousands of euros over several years. According to Latvian Television, the largest recorded loss is almost €100,000 – a SEB bank client transferred that amount to a man from Nigeria she met on social media.

Marcis Pelcis, head of the Security Department at the bank, notes that such scams usually last for years. Victims not only deplete their savings but often take out loans to continue sending money to the fraudsters. Cybersecurity blogger Elviss Strazdiņš recounts a case of a woman in her 60s who, despite warnings from relatives and specialists, traveled to Ghana to meet a 24-year-old man she met online. He says fraudsters skillfully manipulate people's emotions and exploit the desire to be loved and needed.

To prevent such cases, banks block suspicious and unusually large transfers abroad, giving clients time to reconsider their decisions. Often, bankers' questions help people realize they have become victims of fraud.

Experts warn that romance scams can cause not only severe financial losses but also serious psychological consequences. In some cases, victims have fallen into depression or even committed suicide. Therefore, relatives are urged not to distance themselves from those under the influence of fraudsters and to seek professional help for them.

Specialists emphasize that voluntarily transferred money is usually impossible to recover, and many victims have to repay loans taken out for the fraudsters for years.