3 Big Risks for Wealthy Online Daters

3 Big Risks for Wealthy Online Daters
Dating online when you have money can open you up to some unique risks.

3 Big Risks for Wealthy Online Daters

Justin Lavelle
June 4, 2015

Of the roughly 4,000 online dating sites that cater to every conceivable niche out there, those catering to the wealthy have had some solid staying power.

One such site is Millionaire Matchmaker, which has been serving wealthy online daters for over a decade. The company just launched a new iPhone app that promises to make finding a compatible partner among its clientele of verifiable millionaires “efficient and safe.”

While the appeal of such a platform might work for those looking to avoid “riffraff” (Millionaire Matchmaker’s term, not ours) there are a number of risks to wealthy daters looking for love online.

We’ve outlined three of the biggest risks below:

  1. Gold Diggers / Panhandlers

While Millionaire Matchmaker claims to remove dozens of unsuitable profiles per day, it’s clear that the appearance of a high income can be easily faked. High-end handbags, Lamborghinis and Rolexes can all be rented in the sharing economy, after all.

Additionally, the tactic of gold diggers for using online dates as a pretense solely for getting taken out on an expensive date with no intention of following through romantically has been well documented. The chance of falling victim to this type of ploy is only elevated when a “panhanlder” knows the person he or she is about to go out with has money.

So, hold that champagne until you know your date’s true intentions.

  1. Hackers

As online dating sites gain in popularity, they also gain the attention of hackers looking for credit card numbers, email addresses and even personal information like sexual preferences, as happened recently with the Adult FriendFinder hack. Sites that highlight their millionaire memberships have a giant, blinking target for such cyber-crooks, as the rewards are potentially much greater.

  1. Scam Artists

As we recently reported, the FBI’s IC3 report on Internet fraud concluded that cyber crooks were adapting their tactics to fit new online platforms. The same risks that face all online daters apply to the wealthy, but even more so to those who choose to broadcast their status to an entire population of potential dates.

If you’re wealthy and looking for love online, take some time to minimize your risks:

  • Have a system in place for verifying potential online dates.
  • Utilize separate email addresses for online dating.
  • Ensure you are monitoring your credit and identity online
  • Don’t share compromising information in your dating profile.

Finally, ask yourself if it’s necessary to broadcast your wealth to a group of unknowns and if the prospect of mixing it up with the “riffraff” on sites like OKCupid is really so bad after all.

Disclaimer: The above is solely intended for informational purposes and in no way constitutes legal advice or specific recommendations.