As people celebrate Valentine’s Day and look for love online, the Oregon Division of Financial Regulation (DFR) is warning consumers to be on guard against romance scams and so-called “relationship investment scams,” a fast-growing form of fraud that blends emotional manipulation with fake investment opportunities.
Relationship investment scams are a recent and particularly damaging type of romance fraud, causing reported losses in the billions. According to the Federal Trade Commission, consumers reported $12.5 billion in investment-related scam losses in 2024, a figure that has tripled in just three years. In the North American Securities Administrators Association’s (NASAA) annual survey of top investor threats, romance and affinity scams consistently rank among the most serious risks facing communities nationwide. The good news is awareness works, and sharing information can help protect the people you care about most.
“This Valentine’s Day, make sure Cupid is aiming for your heart and not your wallet,” said TK Keen, administrator of DFR, a division of the Department of Consumer and Business Services. “Romance and relationship investment scams prey on trust and emotion, often leaving victims with devastating financial losses. If someone you meet online starts talking about investments, promises easy money, or pressures you to act quickly, that’s a clear warning sign. Love should never come with a request for money, and checking DFR’s website before investing can help stop a scam before it breaks both your heart and your bank account.”
Relationship scams often begin on dating apps, social media platforms, messaging apps, or through unexpected “wrong number” text messages. Criminals use fake profiles, photos, videos, and even artificial intelligence-generated voices to appear attractive, credible, and successful.
Once contact is made, scammers send frequent messages to build trust and emotional attachment before asking for money. What often starts as a small request can quickly escalate into devastating financial losses. In other cases, they often claim to have made significant profits trading cryptocurrency, precious metals, or foreign currency thanks to special knowledge or insider help. Victims are told investing is easy and are encouraged to participate, only to be directed to fraudulent trading platforms secretly operated by organized criminal groups.
These scams do not discriminate. People of all ages and backgrounds have been victimized, though people who live alone or spend significant time on social media or online discussion groups may be more vulnerable. Scams succeed because they exploit powerful emotions such as financial stress, loneliness, excitement, or fear. While these scams have existed for years, they evolve with the headlines and technology. State regulators are increasingly seeing complaints involving digital assets and artificial intelligence. If you believe that you have been a victim, or have any questions, call DFR at 1-888-877-4894 (toll-free) or email dfr.financialserviceshelp@dcbs.oregon.gov.
You can find more information on fraud awareness and how to avoid scams on DFR’s website.
Contact information
Jason Horton, public information officer
503-798-6376
Jason.A.Horton@dcbs.oregon.gov
