October 30, 2023 • 2 mins
Imagine being swept off your feet by someone who claims you’re the love of their life. They compliment you, flirt with you, make romantic gestures, and gain your trust. You’re in love. Then one day, you get a message. Your online sweetheart needs “a little financial help” to deal with a crisis. Or maybe they share an amazing investment opportunity. Of course, you send the money; after all, this person is your love. And then, suddenly, the person — and your money — are gone.
Romance scams like this are one of the most common types of scams reported to the Federal Trade Commission (FTC), whose data shows that nearly 70,000 consumers lost $1.3 billion to romance scams in 20221. To protect yourself and your loved ones, it’s important to know the warning signs of romance scams and how to protect yourself.
According to FTC data, these are the top lies told by romance scammers1.
Nearly 70,000 consumers lost $1.3 billion to romance scams in 2022.”
Romance scams typically start on social media but quickly move the conversation to other messaging apps. If you think you’ve been targeted:
According to the FTC report, consumers lost more money by sending cryptocurrency than any other method.
If you or someone you know is a victim of fraud related to a romance scam:
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1 Federal Trade Commission, “New FTC Data Reveals Top Lies Told by Romance Scammers”