Risky business? Online dating fraud dips during Valentine's Day

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Good news, singletons. According to an analysis of hundreds of millions of online dating transactions by device intelligence and fraud prevention company iovation, fraud on online dating sites is lower leading up to Valentine's Day.

In February 2015, 1.23 percent of all online dating transactions were fraudulent, compared to 1.39 percent during all of 2015, according to iovation.

This doesn't mean that fraudsters are sentimental, but rather that there are more legitimate fish in the online dating sea. "The reason that online fraud rates dip at Valentine's Day is simply because there is a disproportionately high volume of legitimate dating site traffic during that time," said iovation’s VP of Operations Molly O’Hearn. "So it's not that the fraudsters are taking a breather, it's that the legitimate users of data services ramp up, causing the ratio of fraud in the mix to temporarily decline."

Other highlights from the research:

dating site fraud CSO

Your mother might have been right about nothing good happening after midnight
In 2015, the highest amount of online dating fraud occurred between 4am and 7am EST.

It's better to be a lover than a gamer
In 2015, 1.39 percent of all transactions on online dating sites were fraudulent. By comparison, the rate of fraud across all industries was lower than in dating, at 1.06 percent in 2015. However, the rate of fraud in the gaming and retail industries last year was higher than online dating at 3.17 percent and 2.6 percent respectively.

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