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The FBI reported losses of over $956 million to romance scams in 2021, so it's important to learn how to spot scammers and report them before they cause damage.
A romance scam is a confidence trick involving feigning romantic intentions towards a victim, gaining the victim's affection, and then using that goodwill to get the victim to send money to the scammer under false pretenses or to commit fraud against the victim.
Almost 70,000 people fell victim to romance scams in 2022, according to the Federal Trade Commission. Experts told Fox News Digital how those dating online can protect themselves.
The CBS News investigation tracked a significant amount of money lost to romance scams to Ghana. A country with up-to-date technology and an educated population, Ghana has seen inbound wire ...
The two men who finally agreed to speak to CBS News — a syndicate boss who called himself Voodu and senior operator who went by Cola (not their real names) — said they only agreed to talk ...
The scammer begins with a large pool of marks, numbering ideally a power of two such as 1024 (2 10). The scammer divides the pool into two halves, and sends all the members of each half a prediction about the future outcome of an event with a binary outcome (such as a stock price rising or falling, or the win/loss outcome of a sporting event).
The scammer claims an interest in the victim, and posts pictures of an attractive person. [88] The scammer uses this communication to gain confidence, then asks for money. [87] A very common example of romance scams is depicted in the fraudulent activities of these boys, popularly known as Yahoo boys in Nigeria. [89]
Romance scams, which begin when a criminal — or group of criminals working together — adopt a fraudulent online identity to form a social connection and gain their victim's affection and trust ...