A Growing National Threat

The rise of online dating and social networking has created new opportunities for criminals to target victims across the country.

According to the Federal Trade Commission, consumers reported more than $1.14 billion in losses from romance scams between 2019 and 2023, making romance fraud one of the costliest forms of consumer fraud in the United States.

The FBI has also reported that romance scams frequently overlap with cryptocurrency investment fraud, commonly known as “pig butchering” schemes, resulting in even larger financial losses.

Many criminal organizations operate multiple fake identities simultaneously and target victims nationwide.

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The conversation often begins casually and may appear completely harmless.

Some scammers claim they accidentally contacted the wrong person, while others initiate contact through dating platforms and quickly move conversations to private messaging apps.

Step 2: Building an Emotional Connection

Once communication begins, scammers focus on establishing trust and emotional attachment.

Victims often communicate with scammers for weeks or months before any financial request is made.

The goal is to create a strong emotional bond that lowers skepticism and increases trust.

Step 3: Creating a Crisis

After trust has been established, the scammer introduces a financial problem or emergency.

Victims are oftVictims are often told they are the only person who can help resolve the situation.en told they are the only person who can help resolve the situation.

Step 4: The Financial Request

The scammer eventually asks for money through methods that are difficult to reverse or recover.

• Bank Transfers
• Wire Transfers
• Gift Cards
• Cryptocurrency
• Cash Transfer Services
• Payment Applications

Initially, requests may be relatively small.

As trust grows, requests often become larger and more frequent.

Some victims lose tens of thousands—or even hundreds of thousands—of dollars before realizing they have been targeted.

Victims are encouraged to invest through fraudulent platforms that display fake profits and fabricated account balances.

According to the FBI, cryptocurrency-related investment scams now account for billions of dollars in reported losses annually and frequently begin through online relationships.

This combination of emotional manipulation and financial fraud has become one of the fastest-growing scam models targeting Americans.

Why Victims Stay Engaged

Many victims later wonder why they did not recognize the warning signs sooner.

These criminals are skilled social engineers who understand how to manipulate emotions and build dependency over time.

Victims often become emotionally invested long before any financial requests occur.

If multiple warning signs are present, the relationship may be fraudulent.

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Federal agencies emphasize that anyone can become a target regardless of age, education, or financial status.

Many victims report feeling embarrassed or ashamed, which can delay reporting and make recovery more difficult.

The emotional impact often lasts long after the financial loss has occurred.

Protecting Yourself Online

Public Awareness Advisory

Federal agencies, including the FBI and FTC, continue to warn the public about the growing threat of romance scams and romance-related cryptocurrency fraud.

Many of these schemes are operated by organized criminal networks located overseas and are specifically designed to exploit emotional relationships for financial gain.

Public awareness, education, and early reporting remain among the most effective tools for preventing future victimization.

Report Suspicious Activity

Reporting suspicious activity helps investigators identify emerging fraud trends, disrupt criminal networks, and protect future victims from financial and emotional harm.