Be My Valentine (Send Me $$$)!

Lori Kalani, Bernard Nash
Cozen O'Connor
Contact
LinkedIn
Facebook
X
Send
Embed

Cozen O'Connor

  • The FTC released new data showing the rising prevalence of romance scams and the financial toll these scams take on consumers.
  • In its data spotlight, the FTC explained that romance scammers draw interest from consumers by using pictures stolen from the Internet and constructing attractive false personas, and then eventually ask for money from consumers who communicate with them as potential romantic partners.
  • The FTC noted that consumers lost $547 million to romance scammers in 2021, an 80% increase compared to 2020, with a median reported loss of $2,400 and with older consumers reporting the highest levels of losses. 2021 also saw an increased number of scams relating to cryptocurrency investment schemes, for which the median loss was nearly $10,000.
Send Print Report

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Cozen O'Connor | Attorney Advertising

Written by:

Cozen O'Connor
Cozen O'Connor
Contact
more
less

Cozen O'Connor on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign Up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide