"Romance Scam Victims Surge in 2023"

According to researchers at Lloyds Bank, romance scam victims surged by more than a fifth (22%) in 2023 compared to 2022.  The average amount lost per incident was $8847 last year, which is lower than in 2022 when the average loss was $10,505.  The researchers noted that romance scams have exploded in prominence in recent years, with attackers leveraging fake profiles on social media and online dating apps to lure in potential victims.  They are also commonly used as a gateway to other types of fraud and malicious cyber activity.  The researchers found that men were slightly more likely to fall victim to romance scams, making up 52% of incidents.  However, when women fall victim, they report significantly higher average losses than men, $11,589 compared to $6564.  People aged between 55 and 64 were most likely to be tricked by romance scammers, and the number of cases among this age group increased by 49% compared to 2022.  The age group who lost the most money to these scams was between 65 and 74.  These victims lost an average of $16,742 per incident.

Infosecurity Magazine reports: "Romance Scam Victims Surge in 2023"