These numbers may pale in comparison to major markets such as the The business of online dating, as ironic as it might seem, isn't about.
Table of contents
- Online Dating Is Big Business For Fraudsters - Read How To Stop Them
- Dating Is Good Business On Wall Street — Now Users Can Also Turn A Profit
Online Dating Is Big Business For Fraudsters - Read How To Stop Them
Young adults are leading the surge in online dating, with the greatest usage among 18—year-olds. A study has revealed that 55—year-olds are also flocking to online dating in increasingly greater numbers. The sector is expected to maintain continuous growth, with a study by Statista predicting a global annual revenue growth rate of 3.
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Dating sites have been troubled by issues of profile authenticity since the beginning. Existing apps including major names like Tinder and Bumble create little incentive for honesty, instead rewarding those whose profiles look the most visually appealing and not the most transparent nor the most trustworthy. Across all platforms, it is thought that 1 in every 10 profiles is a fake or fraudulent user.
Similarly, there have been severe security issues affecting the users of these dating platforms. With hacks such as the Ashely Madison case where 40 million user profiles were hacked with the data distributed on the dark-web. Start-ups are trying to change this with their forward-thinking innovation to solve these key issues and more.
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One start-up building an exciting solution to solve these core issues and more in a collaborative and open approach is LoveBlock. As a result, with a blockchain-powered platform, users can have an assurance of the true identity of the people behind profiles.
Security on the whole will be vastly improved too. By storing user information in a decentralized and immutable public ledger, personal data safety can be guaranteed.
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Given the rise in popularity of online dating in general, and increased coverage of scams, why do they continue to happen? Hope, desperation, and loneliness play their part at some point in the scamming process but assumption also features: Unless the site explicitly points out that all users have attended interviews or had background checks, it is likely that a profile can be created with nothing more than an email for verification.
To help, we've chosen four signs that show you may be talking to a potential scammer:. Their details appear everywhere. An easy first step check for any online dater: You could also paste the body of their first message into search engines to see if they appear on any reported scam sites.
Dating Is Good Business On Wall Street — Now Users Can Also Turn A Profit
If they are based abroad, be especially wary of the following points To maintain control of the communication environment, the scammer will request that your chats move to other, more private channels like Skype or email rather than staying within the app or site you originally met on. Social platforms like Facebook allow them to create more credible appearing profiles, using other collaborators in the scam to build out social backgrounds.
Preying on the emotionally vulnerable in this way is a reprehensible act, but one that the online world makes possible and easy. The problem is that the way we prove we are who we say we are or the way we prove that someone is who they say they are is outdated. It is too easy for someone to create a fake identity or claim the identity of someone else and, until a solution is found , the dating industry should adopt a better level of professionalism and regulation.