California residents lost $158 million in romance scams on social media or dating apps in 2022, by far the most in the U.S., according to a recent study.
It's not overly surprising to see California, Texas, Florida and New York topping the list — each of them is very highly populated, making it easier for them to rack up big losses. And California had the highest average loss per victim, averaging at just over $72,200,But the biggest increases in money lost year-over-over actually went to much smaller states, like Arkansas , New Mexico , Maine , New Hampshire and West Virginia .
What's the most common method for pilfering cash away from unsuspecting victims just looking for love? That would be crypto, which accounted for more than a third of all money lost in such scams last year. Bank wire transfers were second-most popular, while gift cards were third. A quarter of all romance scammers would use the line that they were"sick, hurt or in jail" in order get the target to send them money; it was used in just under a quarter of all scams, according to Social Catfish. Scammers would also go after those looking to learn more about money, as the lie of"I can teach you how to invest" was used in 18 percent of scams.
In a poll of those who had been targeted, Social Catfish said three-quarters of victims were college-educated, and 84% were either middle or lower class. Nearly half of those polled made less than $100,000 a year, according to the study.
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