Security News > 2022 > February > FTC says Americans lost $547 million to romance scams in 2021
The US Federal Trade Commission said that Americans reported record high losses of $547 million to romance scams in 2021, up almost 80% compared to 2020 and over six times compared to losses reported in 2017.
Financial losses stemming from romance scams have skyrocketed during recent years, with a total of $1.3 billion lost over the past five years.
Last month, the FTC also revealed that over 95,000 US consumers reported losses of around $770 million after getting scammed on social media platforms, with romance scams being the second most profitable fraud after online shopping scams.
"Reports about romance scams increased for every age group in 2021. The increase was most striking for people ages 18 to 29. For this age group, the number of reports increased more than tenfold from 2017 to 2021," the FTC said today.
In September, the FBI warned of a massive spike of online romance scams in 2021 after receiving more than 1,800 complaints linked to $113 million in losses.
If you have fallen prey to a romance scammer, the FBI urges you to stop all contact immediately and file a complaint at www.