CFTC Launches National and Global Fight Against Romance Investment Scams Around Valentine’s Week
U.S. regulator warns public about fraud schemes tied to online relationships.
Campaign targets crypto-linked scams that cost Americans billions.
Partnership spans federal agencies, states, and global securities watchdogs.
(STL.News) Scams – With Valentine’s Day approaching, federal officials are intensifying efforts to warn the public about a rising fraud threat tied to romantic and online relationships that exploit trust to drain victims’ savings.
The Commodity Futures Trading Commission’s Office of Customer Education and Outreach (OCEO) this week unveiled a broad educational initiative to help Americans recognize and avoid so-called relationship investment scams—deceptive schemes in which scammers pose as romantic interests or online friends to pressure targets into sending money or cryptocurrency. Experts estimate these scams inflict roughly $10 billion in losses nationwide each year.
The campaign, branded Dating Or Defrauding?, urges people to be highly skeptical of any romantic contact that quickly shifts to proposals for financial “opportunities,” especially when cryptocurrency or unregulated trading platforms are involved.
Scams – What Officials Are Warning Consumers
OCEO and its partners highlighted several hallmarks of relationship investment scams, including:
- A new online acquaintance who avoids in-person meetings or video chats.
- Rapid movement from mainstream platforms to private or encrypted messaging channels.
- Claims of special investing skills, particularly in crypto trading, followed by requests for funds to invest.
According to regulators, fraudsters often mimic legitimate traders or advisors and lure victims to sham websites that appear authentic but are controlled by criminals.
Scams – Broad Coalition Behind Public Education
The awareness campaign unites a wide network of federal and state agencies as well as industry groups to spread the message:
- Federal involvement: U.S. Department of Justice, FBI, IRS Criminal Investigation, Financial Crimes Enforcement Network, Social Security Office of Inspector General, U.S. Secret Service, and others.
- State partners: Agencies from Minnesota, Oregon, Wisconsin, and the Virgin Islands, among others.
- Market organizations: FINRA, the National Futures Association, and North American securities regulators.
In addition to domestic outreach, the CFTC is collaborating with international securities regulators through the International Organization of Securities Commissions to raise awareness beyond U.S. borders and help reduce victimization globally.
Why Timing Matters with Scams
Regulators underscored that romance- or companionship-related fraud schemes may spike during emotionally charged periods, such as Valentine’s Day, when individuals may be more trusting or eager for connection. By timing outreach efforts to align with this seasonal risk, authorities aim to equip consumers with the tools to recognize red flags early and avoid serious financial harm.
Officials stressed that public education — such as helping people recognize and avoid scam tactics — is a key complement to law enforcement actions against perpetrators after the fact.
Tips to Protect Yourself from Romance Investment Scams
Consumer advocates recommend these basic steps to stay safe:
- Verify identities before engaging in financial transactions with individuals you meet online.
- Avoid sending any form of payment — especially cryptocurrencies — to people you haven’t met in person.
- Use regulated financial intermediaries for any legitimate investing needs.
- Report suspicious behavior to authorities promptly.
The CFTC’s customer protection office provides additional resources designed to help people identify, avoid, and report emerging fraud trends.
Editor’s Note: Don’t be naive! Think with your head, not your heart. It is money. There are those who will do anything to get your money! Be careful, do not engage in things that are too good to be true.
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