BOISE – The Idaho Department of Finance (IDOF) has issued a warning to consumers to be on the lookout for catfishing and romance scams in light of an increased number of reported complaints to government agencies across North America. In 2021 along, consumers reported losing $547 million to romance scams, according to data from the Federal Trade Commission.
One such complaint was recently reported to the Department of Finance from an Idaho consumer who suffered a “substantial financial loss” after falling prey to a catfishing scam, according to a release.
The IDOF says perpetrators of romance scams set online traps and use technology and social media platforms to target potential victims. The online trap is often a fake user profile created by a scammer after researching their target’s interests, relationships, and established contacts, to appear credible and trustworthy. Once a relationship begins, it may grow increasingly serious and even progress over a long period of time before red flags appear. Ultimately the scammer will attempt to extract money from the victim or utilize the victim to carry out further financial harm, etc.
“Perpetrators of romance scams are particularly deceitful as they seek to prey on the vulnerabilities of individuals seeking genuine companionship,” said Patricia Perkins, Director of the Idaho…
