This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Federal regulators in the U.S., meanwhile, are urging consumers to be careful of a particular type of social scam. The FederalTradeCommission (FTC) reports that U.S. consumers lose more to romance-based fraud than any other type of scheme.
Increasingly, the scams involve cryptocurrencies; The New York Times also recently investigating crypto romancescams in which victims are lured into paying criminals with fraudulent, and irrevocable, transfers into digital wallets. That is nearly twice as many reports as the agency received the previous year. by TJ Horan.
Even the most aggressive fraudprevention efforts are often behind the times, so to speak – and that creates another vulnerability in the form of blind spots from which fraudsters can attack. According to PYMNTS research, federal regulators in the U.S. are urging consumers to be cautious of a particular type of social scam.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Federal Trade Commission 
62 
Let's personalize your content