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Romance scams surge as fraudsters exploit love and cryptocurrency
- Romance scams cost Americans over $1.14 billion in 2023, with losses in 2024 expected to be similarly high.
- Scammers are increasingly combining romance fraud with cryptocurrency investment schemes.
- Moody's said 1,193 new entities were linked to romance scams in 2024- highest in six years.
February 14, 2025
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