Many people looking for love online are finding loss instead — roughly $2,600 in lost cash that was lovingly wired to an online sweetheart who mysteriously disappeared.
The Federal Trade Commission received 21,000 reports of romance scams in 2018 — its highest reported number yet —with victims losing a total of $143 million, the agency said Tuesday.
The median loss from a romance scam is seven times higher than other types of fraud, the FTC reported, with a median loss of $2,600 for each scam.
Romance scammers will create fake online profiles using photos taken off the internet to lure people in. They’ll then portray those attractive, made-up personas on various dating apps and social networks not reserved for dating, like Facebook.
Scammers often dodge video chats or in-person visits by saying they’re stationed abroad in the military, said the FTC.
Once relationships are established, though, the scammers will tell victims of a medical emergency or misfortune and request money. They might also ask for money to help pay for a visit.
The business of romance scamming is steadily rising, and it’s more than doubled in recent years.
In 2015, 8,600 reports were filed, with a total of $33 million reported in losses, said the FTC.
People aged 40 to 69 report losing money at the highest rates, which makes them twice more likely to fall for the schemes than people in their 20s, said the FTC. People over 70 report the highest individual median losses at $10,000.
Most people paid scammers through wire transfers and gift cards, according to the report.
The FTC recommends that people do not send money to those they’ve never met in person, talk to friends and family members about potential concerns and do a reverse-image search of online acquaintances.