Romance scams represent a significant and ever-growing concern, with victims losing both a relationship and their money. According to the Federal Trade Commission, romance scammers swindled around $240 million from older adults in 2022. How is this possible?
Raise the Alarm About Relationship Investment Scams
March 25, 2025
By: Melanie T. Devoe, Director, Customer Education and Outreach, CFTC
Scammers use smart phones, social media, and cryptocurrency to steal billions of dollars from Americans. One of the most devastating scams is a mash-up of romance and investment fraud led by large-scale, international organized crime gangs.