Seniors Targeted in Romance Scams
CHATTANOOGA, Tenn. (WDEF) – As Valentine’s Day approaches, new national research from AARP reveals a significant digital threat to older Americans.
Nearly one in ten adults aged 50 and older have been targeted by an online romantic connection who ultimately asked for money or promoted a cryptocurrency investment.
The study finds that these scams are increasingly sophisticated, often originating from “fraud factories” operated by international criminal organizations that use social media platforms and online marketplaces as primary entry points, sometimes spending months building a false sense of security before making a financial request.
Data shows that adults ages 50 to 64 are targeted at more than double the rate of those 65 and older, often through a “hobbyist hook” where scammers join online groups centered around shared interests like classic car collecting or gardening to establish trust.
A fast-growing tactic involves the scammer claiming success in cryptocurrency trading and offering to introduce the victim to a “proven” investment platform.
Despite the scale of the problem, more than half of adults who lost money in a romance scam never reported the theft to authorities or financial institutions, largely due to social stigma.
To stay in control, payment platforms like Zelle and consumer advocates emphasize slowing down the process and recognizing red flags, such as requests for digital payments, gift cards, or cryptocurrency from someone never met in person.
AARP and Zelle remind consumers that a legitimate romantic interest will not require a financial sacrifice or a rushed investment as a condition of the relationship.
