![]() In 2020, there was a 50% jump in reported dollar losses from romance scams from 2019. The prevalence of these types of scams has been steadily rising for the past four years. Scammers lurk on dating apps and social media, striking up conversation with strangers until they build up trust to eventually ask for money. A record $304 million was reported lost to romance scams in 2020. We expect love to have an emotional impact on us, but a new report released by the Federal Trade Commission revealed it’s also hurting wallets.
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