It’s the season of romance, love…and online scams.
Criminals are increasingly exploiting loneliness, trust, and technology — and the financial cost is rising fast.
"Fraudsters will take advantage of any situation, and it's no surprise that you tend to see romance scams soar around this time of year," said Simon Horswell, fraud specialist with Entrust.
U.S. victims lost an estimated $204 million to romance scams last year, with incidents on banking platforms up 20% year-on-year in early 2025, largely driven by dating apps and social media.
Four percent of U.S. adults have either been targeted by a romance scam or know someone who has. Horswell warned that with the advent of AI tools, it's easier than ever for scammers to target victims.
"AI has come forward quite a lot, not the least of which is the deep fake media. So this would be altering your appearance, altering your voice so that you can look like someone else or sound like someone."
"There are a few warning signs. Love bombing, the intensity, the desire to progress a relationship incredibly quickly over a short period of time. They will also look for things that you've posted online to see if you're a suitable target," he added.
