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TinderSwindler: Finra Warns of Far-reaching Romance Scams

Finra warned that losses from romance scams jumped sixfold in the last half decade.

heart g4237f5316 640“Remember to be on the alert for signs of fraud before trusting someone with your heart or your money,” the agency Tweeted, linking to a report from the Federal Trade Commission.

TinderSwindlers are “masters of disguise,” according to the report. “They create fake online profiles with attractive photos swiped from the web. Sometimes they even assume the identities of real people. They may study information people share online and then pretend to have common interests. And the details they share about themselves will always include built-in excuses for not meeting in person.”

Losses totaled $547 million in 2021, up 80% since 2017. The average victim lost $2,400 last year.

Read the full report from the FTC.

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