Do’s and Don’ts to Prevent Romance Scams

True love may be priceless, but searching for it can cost dearly. Among the top-grossing swindles worldwide, romance scams netted fraudsters nearly $2 billion in 2016 (roughly the same amount generated by legitimate dating websites) and a new victim every 48 seconds. The most pursued and prized target: American women over 40 — usually divorced, widowed and/or disabled — who are looking for love or companionship online. Typically working from boiler rooms in Africa or Russia (though some are independent), …

Love: A $56 Million Ripoff

The following is a guest post by Sid Kirchheimer: Love don’t cost a thing?  Not according to the latest findings of the FBI’s Internet Crime Complaint Center. More than 10 percent of total financial losses in online scams reported last year – about $56 million out of the $525 million overall – involved romance ripoffs. The biggest losers, in money and heartbreak: Women 50 and older, who lost $34 million, roughly two of every three dollars in romance scams. Similarly …