Philenews

Protecting Yourself from Romance Scams

Published February 13, 2026, 09:22
Protecting Yourself from Romance Scams

The Cyprus Securities and Exchange Commission (CySEC) is participating in the global awareness campaign of the International Organization of Securities Commissions (IOSCO) to combat investment fraud through emotional exploitation, known as romance scams, crypto investment scams, or “pig butchering.” The campaign, timed to coincide with Valentine's Day, aims to inform the public about the sophisticated forms of fraud and their serious financial consequences. These scams operate by gradually building a relationship of trust between the perpetrator and the victim through messages, dating apps, or social networks. Scammers present themselves as friends, romantic partners, or financial advisors, then promote supposedly high-yield investment opportunities through deceptive websites. IOSCO estimates that these scams have caused damages of tens of billions of dollars globally, making them one of the fastest-growing forms of financial fraud. CySEC is committed to strengthening investor protection and financial education, encouraging the recognition of warning signs, caution towards unsolicited investment proposals, and the dissemination of information to avoid these scams.