Romance scams are on the rise, and so is the cost to victims of them.
The Federal Trade Commission (FTC) says the number of people reporting a romance scam has nearly tripled since 2015.
The FTC also says that the amount of money people reported losing in 2019 is almost six times higher than it was five years ago, going from $33 million lost to romance scammers in 2015 to $201 million in 2019.
“In a sea of online profiles, romance scammers can be hard to detect. But, there are signs you can look out for,” the FTC says.
They warn people to watch for red flags, such as people professing their love too quickly, or claiming to be in need of cash.
You can view the FTC’s full article on Valentine’s Day scams titled “It’s not true love if they ask for money” by clicking here.