JACKSONVILLE, FL—What initially appears as an exhilarating online romance often takes a distressing turn for victims ensnared in the web of romance scams, which have now evolved to include fraudulent cryptocurrency investments. These confidence frauds, commonly known as romance scams, begin when adept criminals establish relationships with unsuspecting individuals through dating and social media platforms. After gaining the trust of their victims, these fraudsters deceitfully request money for various fictitious purposes such as medical expenses, travel costs, or legal fees. The FBI has identified a concerning trend in which these scammers are increasingly coercing victims into investing in cryptocurrency, potentially leading to heightened victimization in 2023.
Year after year, romance scams consistently result in some of the highest reported financial losses when compared to other internet-facilitated crimes. According to preliminary data from the FBI’s Internet Crime Complaint Center (IC3), a staggering total of 19,050 victims reported losses amounting to $739,030,292 due to romance scams in 2022. In Florida alone, 1,475 victims reported losses totaling $53,412,471, while in North Florida (comprising 40 counties), 387 victims reported losses amounting to $15,004,250. Regrettably, some victims choose not to report these incidents out of embarrassment or shame.
In 2023, the FBI anticipates a surge in reported financial losses due to an emerging trend known as International Crypto Investment Fraud within the realm of romance scams. This type of scam commences in a manner similar to an online romantic relationship but takes a different twist. Instead of soliciting direct cash payments, scammers persuade victims to invest in cryptocurrency. To substantiate the promised returns on investment, victims are directed to seemingly authentic websites, which, unbeknownst to them, are controlled by the scammer. After making their cryptocurrency purchases, victims find themselves unable to cash out their investments, and the scammer promptly severs all communication.
Sherri E. Onks, Special Agent in Charge of FBI Jacksonville, cautioned, “Online dating is commonplace today, but unfortunately, scammers also thrive on these same sites. Whether you’re seeking love or friendship online, it’s crucial to understand the risk of exploitation. Always remember that a scammer will eventually request something from you, so establish boundaries early on and never, under any circumstances, send money to someone you’ve never met.”
Romance scams can happen to anyone. Familiarize yourself with the warning signs at. www.fbi.gov/romancescams. If you suspect that your online relationship is a scam, cease all contact immediately and report the incident to your financial institution and the FBI at www.ic3.gov. Filing a complaint with IC3 enables the FBI to identify patterns, aiding in federal investigations and public awareness campaigns.
