Scam Report: Caught in a Bad Romance

March 4, 2021

by Spero Financial

The Federal Trade Commission is alerting consumers about romance scams.

Excerpt from the Federal Trade Commission article "Caught in a bad romance"

Beyond the job losses and economic fallout of the pandemic, the loneliness and isolation brought on by our virtual lives has real consequences. This might explain why romance scams reached a record $304 million in losses reported to the FTC in 2020. That’s up about 50% from 2019.

Romance scams can start out in lots of ways – like when scammers create fake profiles on dating apps or social media. But these scams always end the same way – with a made up story about why the person needs money. Even if this scam might not affect you, it could be happening to someone you know. 

Read more for what you need to know about protecting yourself against romance scams.

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