Valentine’s Day just passed, but officials say romance scams cost Americans millions of dollars year-round.
The Federal Trade Commission released new numbers this week on reports it has received about romance scams. They say consumers lost $201 million to scammers who prey on people looking for love.
The FTC says scam victims have lost more money to romance scams than to any other reported scam.
Most romance scams start with the scammer building a relationship with their victim. Once the relationship is established, the scammer asks for money to get out of a made-up crisis.
According to the FTC, in 2019 alone, 25,000 people reported romance scams.