It is a myth that most scams happen in an instant through a single-clicked link or a momentary lapse in judgment. In reality, the most devastating modern scams are long games built on weeks or months of deliberate emotional manipulation by criminals.
According to COBA’s Head of Financial Crimes and Cyber Resilience, Martin Latimer, scammers are getting increasingly sophisticated and no longer operate in isolation.
“Scammers often work out of organised call centres, communicating with multiple victims at once to amplify their criminality. They follow strict scripts and playbooks, receive active coaching, and operate around the clock to deploy highly effective psychological tactics,” he explains.
Investment and romance scams remain among the most lucrative for scammers. According to data from Scamwatch, Australians lost over $162 million through investment scams and nearly $28 million through romance scams in 2025.
By understanding how these criminals operate, you can spot the warning signs before it’s too late. COBA’s Financial Crimes and Cyber Resilience team highlights common red flags that you are being groomed for a scam.
The 48-hour blitz
The initial contact is often intense. Whether it is an unexpected message about a job, an investment tip, or a wrong-number text that turns friendly, scammers try to establish a tight connection within the first 48 hours. They use rapid-fire messaging to overwhelm your doubts and embed themselves in your daily routine. Scammers often present as highly attentive, understanding, and affectionate early on, actively mirroring your interests and values to create a false sense of connection and trust.
Moving the conversation
Whether they reach out via LinkedIn, WhatsApp, a social media comment, a dating app, or an online forum, they will quickly pressure you to move the conversation to an encrypted messaging app like WhatsApp or Signal. This tactic deliberately pulls you away from the safety moderation, reporting tools, and fraud detection mechanisms of the original platform.
Introduction of an “insider” opportunity
Once trust is built, they casually drop mentions of how much money they are making through cryptocurrency, exclusive trading platforms, gold trading, or a side hustle. They do not push you to join immediately. Instead, they wait for you to ask them for help, making the opportunity feel exclusive and driven by you rather than a sales pitch.
The small, successful test
To build your confidence, they start small. They will guide you to invest a minor amount or perform a simple trial task for a job and allow you to successfully withdraw a small profit. This creates a false sense of security, making the platform, app, or company look completely legitimate when, in reality, the data on the screen is entirely fabricated.
Secrecy and exclusivity
Scammers frequently apply psychological pressure by framing the relationship or the financial opportunity as private and special. They may discourage you from talking to friends, family, or financial advisors, claiming that outsiders will be jealous or try to steal the opportunity from you. This is a deliberate tactic to keep you isolated from objective advice.
Their profile is too perfect
Their online profiles look incredibly polished and highly curated. They often feature AI-generated headshots of immaculately groomed executives or attractive individuals, list impressive job titles at vague international firms, and showcase lifestyles of luxury, travel, and success to build an illusion of wealth and credibility.
Constant excuses to avoid real-time video
They will actively avoid standard video calls or face-to-face meetings. If you push for a video call, they will claim they have poor connectivity, are travelling in remote areas, or use a pre-recorded video loop that freezes or lags to mimic a bad connection. In romance grooming scams, they may repeatedly promise to travel to meet you but cancel at the last minute due to a sudden medical, legal, or business crisis.
Manipulation and guilt-tripping
If you begin to question their motives or hesitate to send money, the tone shifts. Scammers will play on your emotions, using guilt-tripping tactics to make you feel like you are breaking their trust or ruining a future together. They may become defensive, distressed, or angry to pressure you into compliance.
Shifting bank accounts
When you go to deposit larger sums, you notice the banking details change frequently, or they ask you to send money to different, unrelated third-party accounts, overseas banks, or convert it to cryptocurrency. They will explain this as standard corporate processing, liquidity management, or tax optimisation, but it is actually a method to evade bank detection systems.
Capitalising on sunk cost
Once you have substantial funds in the platform, they lock you out. When you try to withdraw your money, they demand a release fee, liquidity tax, or clearance fee to get it back. This exploits the sunk cost fallacy, tricking you into sending even more money in a desperate bid to recover your initial investment, only for them to disappear once you stop paying.
Protect yourself by remembering to Stop. Check. Protect
If you suspect an online business relationship, job offer, or investment opportunity is turning into a scam, take a step back and Stop. Check. Protect.
STOP. Always take a moment before giving your money or personal information to anyone. Do not commit to funds on the spot and never allow anyone remote access to your computer or device.
CHECK. Make sure the person or organisation you are dealing with is real. Independent research is vital. Search the company name alongside keywords like “scam” or “review,” and check the ASIC notice board and investor warning list to see if the entity is registered or flagged as unauthorised.
PROTECT. Act quickly if something feels wrong. If you have provided bank details or sent funds, contact your financial institution immediately. Report any suspicious activity, fraudulent websites, or deceptive profiles directly to Scamwatch to help protect others from falling victim to the same network.