Federal law enforcement leaders are warning the public about a sharp rise in sophisticated romance and investment scams and have launched a new awareness campaign aimed at stopping the fraud.
On Thursday, U.S. Attorney Michael DiGiacomo, FBI Buffalo Special Agent-in-Charge Philip Tejera, and Homeland Security Investigations Buffalo Special Agent-in-Charge Erin Keegan announced the #DatingOrDefrauding campaign this week to highlight the growing threat of relationship-based financial scams.
Officials say scammers increasingly use dating apps, social media, and messaging platforms to build trust with victims before steering them into fraudulent investment schemes, often involving fake cryptocurrency or trading platforms with manipulated results. Victims can lose thousands of dollars and suffer significant emotional distress.
Authorities say people of all ages are being targeted, including professionals, seniors, and younger adults who are more likely to use online dating and explore crypto investing.
One emerging tactic, known as “pig-butchering,” involves scammers developing an online relationship, showering victims with affection, and gradually convincing them to invest larger sums of money before disappearing with the funds.
DiGiacomo urged caution when interacting online.
“With romance scams on the rise and more and more people being targeted, it’s imperative that everyone uses extreme caution online to avoid being emotionally devastated and financially drained,” he said. “Be very cautious about what you share online and do not engage with any online requests for money. Trust your gut — if it doesn’t feel right, it probably isn’t.”
Keegan noted that the Valentine’s Day season often brings an uptick in these scams and said they are designed to exploit people’s emotions and trust.
“These scams target everyday people, and anyone can be a victim,” Keegan said. “They are not just financial crimes — they are calculated attacks on people’s trust, emotions, and livelihoods.”
Tejera said criminals are also using tools such as artificial intelligence to make scams more convincing and encouraged victims to come forward.
The FBI reports that in 2024, roughly 59,000 people nationwide lost more than $672 million to romance-related scams. Many victims never report the crime out of embarrassment or shame, officials said.
Authorities recommend avoiding online requests for money, limiting personal information shared on social media, checking privacy settings, ignoring unexpected or “wrong number” messages, and thoroughly researching any investment opportunity before sending funds.
Anyone who believes they have been targeted is urged to stop communication immediately and file a complaint with the FBI’s Internet Crime Complaint Center at ic3.gov or contact their local law enforcement agency.
