Romance Scams On The Rise
Author: James Brown, Montana Commissioner of Securities and Insurance
Romance Scams on The Rise
James Brown
Montana Commissioner of Securities and Insurance
Helena, Montana—The Montana Commissioner of Securities and Insurance (CSI) is urgently warning residents about the growing threat of romance scams in the state.
The Rising Threat of Romance Scams
Romance scams, which involve deceptive online relationships often initiated through dating websites, apps, or social media, have become increasingly prevalent. Scammers create fake profiles to lure unsuspecting individuals seeking companionship, ultimately asking for or stealing money once they've gained the victim's trust. According to the Federal Trade Commission's Consumer Sentinel Data Book, a staggering $823 million was lost to romance scams through September 2024.
The CSI encourages Montanans to report fraud because these scams thrive in silence. "We can only help if we know about it," emphasized Commissioner James Brown. "It's crucial to report any suspected fraud to protect yourself and others from falling victim to these scams. The CSI reminds Montanans to celebrate love responsibly and remain vigilant against potential romance scams.”
Montana's Unique Vulnerability
Montana faces challenges when it comes to these scams:
* Geographical isolation in many communities can lead to social isolation
* Montanans' reputation for being caring and neighborly may increase susceptibility
* The state ranked seventh highest in per capita internet crime losses nationwide in 2023, as reported by the FBI's Internet Crime Complaint Center (IC3)
Protecting Yourself from Romance Scams
The CSI offers the following tips to help Montanans avoid falling victim to romance or investment scams:
* Be Skeptical: Exercise caution if an online acquaintance refuses to meet in person or requests money
* Seek Trusted Advice: Consult with friends or family members who can offer an outside perspective on the situation
* Avoid Money Requests: Never send money to someone you haven't met in person, regardless of professed feelings
Reporting Fraud
The CSI urges Montanans to report any suspected fraud. Complaints can be filed at csimt.gov/file-a-complaint-2 or by calling 406-444-3815.
The Montana State Auditor, Commissioner of Securities and Insurance, regulates the insurance and securities industries in Montana. The State Auditor is also an ex officio member of the Montana Board of Land Commissioners. James Brown was elected Montana State Auditor in 2024.
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