New information present that extra customers than ever are falling prey to romance scammers. Shoppers reported dropping $547 million in 2021 alone.
The Federal Commerce Fee’s data spotlight exhibits that in 2021 reported losses to romance scammers have been up practically 80 p.c in comparison with 2020, and the whole reported misplaced over the previous 5 years has now reached $1.3 billion.
Romance scammers draw folks in utilizing photos stolen from across the web, constructing false personas that appear simply actual sufficient to be true, however all the time having a cause by no means to fulfill in particular person. Finally, the supposed suitor will ask for cash from the unwitting client. The impression may be main, with a median lack of $2,400 reported to the FTC.
Whereas many individuals report the romance rip-off began on a relationship website or app, studies of romance scams originating from contact by social media have been additionally widespread, in line with the FTC.
The biggest reported losses to romance scams have been paid in cryptocurrency: $139 million final 12 months alone, practically 5 instances these reported in 2020. In 2021, the median particular person cryptocurrency loss was $9,770. Whereas cryptocurrency losses have been the most expensive, it was not the commonest fee technique for love scams. In 2021, one in 4 folks reported paying romance scammers with present playing cards; they misplaced $36 million final 12 months.
Reviews about romance scams elevated for each age group in 2021 however have been up tenfold for folks ages 18 to 29. The reported median loss elevated with age: folks 70 and older reported the best particular person median losses at $9,000, in comparison with $750 for the 18 to 29 age group
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