Wednesday, January 01, 2020

12 Days of Scams Day 9: Heartbreaking Romance Scams

Romance in the air -- and on the internet. But so are the scams.

Complaints to the Federal Trade Commission about romance scams have risen significantly in recent years, as have the financial losses associated with them.

Learn more about the $143 million in reported losses during 2018 from such scams at

Those victims age 70 and over reported losing the most -- a median loss of $10,000. Ouch!

The scammers were able to make the victim feel important and were often viewed as the most compassionate and helpful person in their life. But the scammer also needed help with rent, car repairs, medical emergencies, transportation or family situations and didn’t hesitate to ask the victim for help.

As the victims learn, the scammers were not who they said they were. They use other people’s photos and fake identities. And they can pocket around $10,000 per older victim. That’s not romantic!

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