Romance fraud is a common scam, and it affects many people. As a result, it is important to be aware of your rights and be alert for scams. You should not use online dating services unless you have a trusted relationship with the person you are corresponding with. However, there are a few things you can do to avoid becoming a victim. Here are some tips. Read on to learn more about romance fraud.

First, know what to look for. The CAFC reports that it has received thousands of romance fraud complaints last year. These scams are very common and often involve large sums of money. The average loss of these victims is $2600, which is seven times more than the median loss from all types of fraud. The most frequent target for romance scammers is older adults, who report the highest losses of this type. A person can lose up to $10,000 in a single case.

The Federal Trade Commission (FTC) has released a study that shows that in 2016, romance scams cost an estimated $304 million in reported losses, and the amount of losses could be significantly higher. The average amount per victim was around $2,000. According to the report, the number of romance scam reports has nearly tripled since 2016, while the dollar amounts have nearly quadrupled. The total for 2020 is expected to be 50% higher than that of 2019.