Just in time for this holiday of love, American 1 would like to remind you to protect your heart – and your wallet. The Federal Trade Commission (FTC) just released data that spotlighted Romance Scams as the #1 scam occurring right now, and the statistics are staggering. The number of romance scams reported to the FTC has increased from 8,500 in 2015 with losses of $33 million to 21,000 in 2018 with losses totaling $143 million. Also, people ages 40-69 report losing money to Romance Scams at the highest rate – more than twice the rate of 20-somethings. People age 70 and over report the highest median losses at $10,000.
While we want our members to be informed of the statistics, we don’t want you to lose hope. Love and online dating is not a lost cause, just always remember these few tips: