FTC: $143 million lost in relationship scams in 2018

The government is now capable of quantify how much “lookin’ for love in all of the fallacious places” prices us as a nation.

This Valentine’s Day, keep in mind that People reported dropping $143 million in 2018, after getting concerned in what they solely later realized was a relationship scam, in line with a brand new report from the Federal Trade Commission. And that’s simply the yr’s value of stories.

The FTC’s Sentinel shopper reporting system acquired more than 21,000 studies of online romance scams last yr, the report says. The $143 million misplaced make relationship scams the most expensive type of shopper fraud cataloged by the federal government’s on-line reporting system.

What type does a “relationship rip-off” take?

“Romance scammers lure individuals with phony on-line profiles, typically lifting photographs from the online to create engaging and convincing personas,” the report says. “They could make up names or assume the identities of actual individuals.”

And it’s not an issue confined just to courting apps and web sites, either, the FTC says.

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