Romance Scams Outpace Other Fraud Types at $1.16 Billion

Romance scams continue to escalate, with reported losses reaching alarming levels in recent quarters. According to Federal Trade Commission (FTC) Consumer Sentinel Network data, the median loss per romance scam victim was $2,218 in Q3 2025. During that period alone, more than 11,200 people reported losses totaling $398 million. For the first nine months of 2025, the FTC recorded 55,604 romance scam complaints – up 22% from the same period in 2024 – with total reported losses exceeding $1.16 billion.

These figures outpaced several other major scam categories, including job scams, which generated 110,653 complaints and $518.2 million in losses during the same timeframe. The Consumer Sentinel Network compiles reports from sources including the AARP Fraud Watch Network, Better Business Bureau Scam Tracker, and state attorneys general.

Experts attribute the rise to increasingly sophisticated, industrialized operations. Richard Graham, director of financial crime solutions at Moody’s, describes large-scale “fraud factories” that run around-the-clock messaging campaigns, building long-term emotional relationships before requesting money via gift cards, wire transfers, cryptocurrency, or other methods.

The FTC notes older adults (60+) are especially vulnerable, reporting $2.4 billion in total scam losses in 2024 – up sharply from $600 million in 2020. Many six-figure losses stem from either romance and investment scams, or a combination of the two.