2023 romance scams cost consumers a record $1.14 billion, with 75% male victims, per FTC.
2023 saw romance scams costing consumers a record $1.14 billion, per FTC, with men accounting for nearly 75% of victims. Cybercriminals exploit emotions, building trust through platforms like social media, eventually convincing targets to provide access to their bank accounts or transfer money. Romance scams are the costliest form of imposter fraud, with a median loss of $2,000 per person.
July 03, 2024
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