FinCEN urges banks to crack down on surging investment scams exploiting romance, dating apps, and social media

In support of the multi-agency #DatingOrDefrauding campaign, FinCEN urges financial institutions to stay vigilant against suspicious activity related to relationship investment scams, which contributed to over $650 million in reported losses in 2023. The campaign aims to raise awareness about scams targeting victims via dating apps, social media, and wrong-numbered texts.