The Federal Bureau of Investigation (FBI) has sent a warning to gullible singles looking for love to be on the lookout for romance scams that use cryptocurrencies.
In a recent press release, the FBI San Francisco stated that there has been a steady increase in the amount of romance scams taking place in the Bay Area. This warning comes just a few days before Valentine’s Day.
According to the FBI report, romance scams continue to rise in the area. According to the most recent figures, romance scandals in the area of the FBI San Francisco Division lost more than $64 million in 2021. That number was almost double the 2020 figure, with an estimated $35 million in losses.
Rise of the Romance Scandal
Romance scams seem to be a popular growing trend for scammers. The age group with the highest number of victims reported appears to be the age group of 60 years and above. This can be related to loneliness, the loss of a loved one, and a lack of security checks when dealing with fake lovers.
Romance scammers have recently come into the crypto industry. In a new way, scammers persuade people to send money to investment schemes.
These plans then generate a profit that the victims can withdraw. The scammers then lure the victim to deposit a large amount in the scheme, which leads to higher profits. However, when it comes time to withdraw funds, there is usually a withdrawal fee or taxation that must first be paid in order to access the funds. Once this is paid for by the victim, the scammers disappear with the money.
This elaborate thief works on the premise of finding true love and connecting with someone across the globe. With the day of love approaching, this could make it an easy choice for romance scammers.
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