Since Valentine’s Day brings love celebrations, federal agencies and technology companies make warnings about a darker reality – fraud.
The fraudsters who demonstrate as potential partners get the only individuals, and often steal thousands of dollars under the guise of love and companionship.
The FBI describes romantic fraud as online plans in which criminals use fake identities to obtain the victim’s confidence before manipulating them to send money.
These fraudsters often claim that they are working abroad in construction or army, using the distance as an excuse to avoid meeting personally.
Frauds have reached worrying levels, as the Federal Trade Committee (FTC) stated that the Americans lost more than $ 1.14 billion in romantic fraud in 2023.
In the first nine months of 2024 alone, the amounts reported reached 823 million dollars.
However, experts believe that these numbers are not largely amount to them, as many victims feel very shy about progress.
Meta takes romantic fraud
Technology companies have increased the efforts made to reveal and remove fraudsters from social media platforms.
In a note published on Wednesday, the social media giant talked about the disruption of a major network of romantic fraudsters who were presented as American military personnel on Facebook, Instagram, Threads, Tiktok, Pinterest, YouTube and Quora.
Meta revealed that fraudsters are usually published about “lonely feeling” or “searching for love” and then transferred talks to WhatsApp, Telegram, Signal, or Facebook Messenger – often using Nigerian phone numbers.
The fraudsters then request wire transport or gift cards online, citing fabricated expenses such as phone calls for long distances or mail to get a romantic gift.
In 2024, Meta reduced more than 408,000 accounts from countries including Nigeria, Cote d’Ivoire, Ghana, Bennin and Cameroon.
These accounts targeted individuals in Australia, the United Kingdom, the European Union, the United States, South Korea, Syria, Japan and Ukraine.
In addition, more than 116,000 pages were removed from the Facebook and Instagram page to engage in similar fraudulent activities.
Romantic fraud is risk of banks: Moody’s
According to a report issued by Moody’s, 1,193 new entities and romantic fraud were linked in 2024 – the highest recorded number in six years.
The United States formed 38 % of new fraud features, followed by Nigeria (14 %), India (12 %), the United Kingdom (11 %), Malaysia and China (5 % each).
Frauds in the field of financial grooming increased during the Covid-19s, where people sought isolation from emotional ties.
MOODY noticed that although the new romantic fraud files in its database decreased by 29 % in 2020, it increased by 57 % in 2021, when global interlocutors fueled online relationships.
The report also highlighted the dangers of banks, which face damage and fines in reputation if they fail to discover and prevent money -related money.
Romantic fraud is linked to the fraud of cryptocurrencies
A new report indicates that, although 6 % romantic fraud in 2023, the financial losses are still severe.
Miscellaneous, fraudsters increase in romantic fraud and investment plans in encrypted currency, and deceiving victims to transfer money under the pretext of love and financial opportunities.
Arizona reported the highest rate of per capita, while California led total losses, with $ 104.8 million from 6687 cases.
The increasing trend of “dual” fraud also appeared, as fraudsters first formed romantic partners before persuading the victims to invest in fake encryption projects.
According to the online crime complaints center (IC3), romantic fraud in coded currency formed $ 215.8 million in losses in 2023.
A report published on February 13th highlighted the “operating level” at the FBI, an initiative aimed at preventing victims from falling prey to “slaughtering pigs”.
According to the report, the process helped potential victims to avoid losing about $ 285 million to fraudulent investment plans.
As of January 2025, the FBI has reached more than 4,300 people exposed to a financial loss.
Among them is about to invest in one million dollars and another planning to sell his home for $ 500,000 to finance an investment in the fraud.
Thanks to the intervention of the FBI, both persons withdrew from the plans, and avoid destroyed losses.
How to protect yourself from romantic fraud online
Cyber security experts emphasize the importance of vigilance when engaging with strangers online.
Rachel Toubak, an expert on Internet safety and moral infiltrators, suggests three main steps to detect romantic fraudsters:
Be crazy with greatness – many fragments use stolen or fake identities. Do a reverse search search for their profile image to verify whether it appears via multiple non -relevant accounts.
Be careful of financial requests – if someone has just met on the Internet asking for money, bank account details or other sensitive personal data, it is likely to be a fraud.
Legitimate relations do not start with financial requests.
Encouraging second opinions – victims often behave under emotional pressure.
If a friend or family member is in an online relationship with someone who has not met them personally, encourage them to discuss it with a reliable close before sending money or sharing sensitive information.
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