Almost 60,000 Americans were left bilked of savings and heartbroken in 2024
From the U.S Attorney’s Office
BUFFALO, N.Y.-U.S. Attorney Michael DiGiacomo, FBI Special Agent-in-Charge Philip Tejera and Department of Homeland Security Special Agent-in-Charge Erin Keegan announced the #DatingOrDefrauding Campaign to draw attention to relationship investment scams.
Romance scams are on the rise and are becoming more sophisticated than ever. Would be scammers use dating apps, social media, and messaging platforms to find victims. These scammers build trust to gain confidence of victims and then push victims into investments, which turn out to be fake crypto or trading platforms with manipulated results. Victims are often left emotionally devastated and financially drained. Over the past few years, scammers have targeted just about every one of every age, including:
- Professionals
- Seniors
- Younger people, who are more willing to consider online dating and crypto investing
One of the newest romance scams is called “pig-butchering.” Scammers lure in a victim, bombard them with affection, manipulate their emotions, and then convince them to make an investment. The scam’s name comes from the way these predators “fatten up” their victims—encouraging larger investments—before slaughtering their hopes and stealing every dollar. To avoid this and other types of fraud:
- Do not engage with online requests for money
- If something doesn’t feel right, rust your instincts
- Limit who can see your information on social media and what you share
- Check privacy settings on all social platforms, messaging apps, and mobile devices
- Report suspicious people and activity to social media, dating or messaging platforms
- Don’t respond to wrong number text messages
- Before investing, learn all that you can about the investment
- Never risk more money than you can afford to lose
“With romance scams on the rise and more and more people being targeted, it’s imperative that everyone uses extreme caution online to avoid being emotionally devastated and financially drained,” stated U.S. Attorney DiGiacomo. “Be very cautious about what you share online and do not engage with any online requests for money. Trust your gut, if it doesn’t feel right, it probably isn’t.”
Homeland Security Investigations Buffalo Special Agent-in-Charge Erin Keegan stated, “The Valentine’s Day season brings an increased risk of romance scams, including and especially the ‘so-called’ pig-butchering schemes – which are not just financial crimes; they are calculated attacks on people’s trust, emotions, and livelihoods. The reality is, these scams target everyday people, and anyone can be a victim. The emotional toll is significant, and many victims feel embarrassed or ashamed, making it harder to come forward. Together with the FBI, the Western District of New York, and several partners, our newly created Homeland Security Task Force is utilizing every tool at our disposal to ensure criminal opportunists cannot freely exploit innocent, unsuspecting and hard-working Americans.”
“Romance and confidence scams remain a significant threat, causing substantial financial and emotional harm to victims nationwide. As criminals exploit various tools, such as artificial intelligence, to enhance their schemes, it is vital for individuals to be vigilant,” said Philip Tejera, Special Agent-in-Charge of the FBI’s Buffalo Field Office. “The FBI encourages anyone who believes they have been targeted to immediately stop communication, report the incident to the FBI’s Internet Crime Complaint Center at ic3.gov, and contact their local FBI field office or other law enforcement agency.”
According to the FBI, in 2024, approximately 59,000 people fell victim to romance-related scams, losing over $672-million dollars. The FBI says that many times, once a victim realizes that they have been exploited, they feel embarrassed or ashamed, and do not want to let anyone know what happened to them, including law enforcement. However, the FBI encourages anyone who has been victimized by this fraud or unsuccessfully targeted to file a complaint. If you suspect an online relationship is a scam, stop all contact immediately. If you have already sent money, report any transfer of funds to your financial institution and contact law enforcement.
