FTC warns 'romance scams' are on the rise - and they cost victims $143 million last year

You may want to use some extra caution. A new notice released Tuesday by the Federal Trade Commission highlights a surge in'romance scams,' or scenarios where scammers trick love-lusting internet users into sending them money, only to later disappear. The scams cost victims an astonishing $143 million in 2018, up from $33 million the previous year and making it the most costly type of consumer fraud reported to the FTC. A new notice from the Federal Trade Commission highlights a surge in'romance scams,' or scenarios where scammers trick love-lusting internet users into sending them money Romance scams, where criminals create phony profiles to trick love-lusting victims into sending them money, are on the rise. To avoid falling prey, here's what you can do: These romance scams typically involve a user creating a phony profile and approaching someone via a dating app or website.