What is a Sugar Daddy?
You have already heard about this terminology before, right? Everyone would have an obscure idea of what sugar daddies are, but today we will be providing you a complete detailed information on what they are and how they scam people and leave them financially disturbed. Sugar daddies are normally the rich and old members of the society who trap the younger ones in the lust for money. These old men offer young girls huge sums of money in return for their love and affection.
Same is the case with sugar mommies, who lure young men into their trap. Sometimes these offers may be legit, but they are usually scams most of the time. Of course if the intentions of both sides are genuine, there is nothing wrong in such friendships or relationships, but these relations may be leading to a lot of scams which people are unaware of.
Sugar Daddy Scams
Sugar Daddy scams are getting in a lot of trend in the recent days. Remember, these scammers pretend to be a sugar daddy to get money from other people. The sugar daddies will try to contact you through different social media platforms and will try to be friends with you. These scammers will try to convince you that they can be your sugar daddy and will send you loads of money and will pay your monthly bills.
They will also ask you for some money in return. When you send them this amount, they will usually block you and will never be found again. What really happens: the scammers can either promise you a lot of money in return for a small payment or can pay you the money first and then ask you for some amount back. The amount paid will vanish after some period of time.
How Sugar Daddy Will Approach You?
This is the easier of the two methods. These types of scams are very popular these days, especially on finance related platforms like Venmo and Cash App. Here is what happens in these scams.
First of all, the scammer will pretend to be a sugar daddy and will try to approach you through different social media sites. They will then convince you to be your sugar daddy in return for which you will be receiving a lot of money and all your bills will be paid. Such statements like “I can take you out of such a crisis” and “You don’t have to worry when I am here” will be made by them to make an emotional attachment with the other person.
After that, they will ask you to send them a small amount of money in return for a large sum, which according to them is a payment fee or other excuse of such sort. Once you make the payment, they will disappear from your life and are never to be found again.
This is a difficult and far more dangerous method than the above one. Sugar daddies will first convince you of their loyalty, and then send you a huge sum of money. But what actually is this money? These scammers will use two tactics for sending you money. First, they will send you money through stolen credit card funds. You will receive the amount but as soon as the credit card company realizes the fraud, they withdraw the money and you are left with nothing.
Secondly, they can also send you money through bounced checks. These scammers know that a certain check will bounce and they will use that. You will receive the amount in your account but that won’t count until the funds are cleared. And if you don’t clear the funds, you will again be left with nothing. How does the scammer benefit from this situation? The scammer will usually ask for a small payment back before the money in your account vanishes and the run away with that amount.
How To Know if Someone is Scamming You?
Finding out about such scams is pretty easy. You just have to avoid talking to random strangers you meet on the internet every day. Yes there are legitimate and good people out there who are genuinely interested in helping you, however, no such loyal person asks for a small amount of payment either as a “loyalty test” or a small upfront payment before. People who make such loyalty tests are never loyal to you.
Also, don’t accept money from a stranger no matter what your circumstances are. Keep your relationships secure and private and the chances of such scams will be minimized to a large extent.
Cash App Sugar Daddy Scams
Such types of Sugar Daddy scams are very popular on Cash App and other such sites like Venmo etc. Scammers pretend to be your sugar daddy and ask you for a small upfront payment in return for a huge one. There are many applications which help you make fake payment screenshots for Cash App. This is exactly what scammers do. They send you a fake screenshot and in return get the small payment and run away with it.
Is Scamming Sugar Daddies illegal?
According to the research conducted by a George Washington Professor, Ronald, only advertising or telling the other person that they want to be their sugar daddy isn’t illegal at all. However, it is the money involved which is illegal. When a scammer asks or tells to provide money in return for care and affection, even if the person is loyal, this is considered illegal and wrong at all moral and ethical levels.
FBI Concerned About Sugar Daddy Scams
The FBI is seriously concerned about the growing trend of such scams these days on various money transfer applications. They are considering a major crackdown on all such people as well as raising awareness among people not to trust people offering them money.
We are also providing you this information to make you better aware of your surroundings and to protect you from such scams, because the large ratio of such scams indicates that even if you haven’t been a victim of this now, you can be in some amount of time!