Romance Scam Losses Surge 38% in 2025, Older Adults Face Highest Financial Impact

What is a Romance Scam?

Romance scams occur when a fraudster establishes an online romantic relationship to build trust before extracting money. Historically, scammers requested funds citing emergencies like medical expenses or travel costs. Today's schemes are more sophisticated, using AI-generated messages and photos to create extended, convincing relationships.

The Five-Stage Pattern

Modern romance scams typically progress through these stages:

1. Friendly Introduction: Initial contact via social media or dating apps
2. Fast Emotional Connection: Building intimacy rapidly
3. Constant Contact: Daily messages and video calls (often AI-generated or pre-recorded)
4. Quiet Isolation: Encouraging secrecy from family and friends
5. Money Request: Starting small, often escalating to investment schemes

The Investment Pivot

Instead of requesting emergency funds, modern scammers offer "help" through:

• Cryptocurrency platforms where they claim to have profited
• Trading apps they want to "share"
• "Sure thing" investment opportunities

The first deposit often shows a small gain (displayed on a fake app). This hooks the victim into making larger deposits. Withdrawals then face unexpected fees, delays, or excuses. Because victims initiate transfers, banks' fraud detection systems often miss these transactions as legitimate.

Why Older Adults Are Hit Hardest

While anyone can be victimized, older adults face disproportionate impacts:

• Assets: Decades of savings, retirement accounts, and home equity
• Life Circumstances: Widowed, divorced, or living alone individuals seeking genuine companionship
• Time: Scammers can spend weeks or months building trust

FBI 2025 data shows adults 60+ represented 44% of romance scam complaints but 63% of reported losses, with average losses around $57,000 compared to $40,000 for other age groups.

Warning Signs to Watch

If a parent or friend has a new online relationship, note these red flags:

• No In-Person or Live Video Contact: Always an excuse preventing face-to-face or live video meetings
• Secretiveness: Defensive when asked about the relationship
• Investment Talk: Mentions of new crypto accounts, trading apps, or investment platforms recommended by their partner
• Unusual Financial Activity: Unexpected wire transfers, withdrawals, or gift card purchases

How to Help

If You Suspect Someone Is Being Scammed

Approach with curiosity, not judgment. Directly saying "you're being scammed" often backfires and pushes victims closer to scammers.

Try asking:

• "Can you show me how that app works?"
• "Would you be open to a video call with them so I can meet them?"

These questions may help the person realize the red flags themselves.

If Money Has Already Been Sent

1. Contact the bank immediately to halt further transfers
2. Report to the FBI's Internet Crime Complaint Center (IC3): https://www.ic3.gov/
3. Report to the FTC: https://reportfraud.ftc.gov/

Quick reporting offers the best chance of stopping additional transfers and potentially recovering funds.