The Commodity Futures Trading Commission’s Office of Customer Education and Outreach has launched the interagency “Dating or Defrauding?” social media awareness campaign and released a customer advisory warning the public about relationship investment scams, a form of romance fraud that typically funnels victims into fraudulent trading platforms linked to cryptocurrency, precious metals, or foreign exchange. Over the coming weeks, the campaign urges Americans to be skeptical of online contacts requesting cryptocurrency, gift cards, wire transfers, or other payments, and highlights common red flags such as an ongoing inability to meet in person, pressure to move conversations to encrypted messaging apps, and repeated investment pitches or requests for money. The initiative, promoted using the #DatingOrDefrauding hashtag, is coordinated with federal and state agencies and nongovernmental organizations including the Federal Bureau of Investigation, Federal Trade Commission, Financial Crimes Enforcement Network, FINRA, and the National Futures Association. The CFTC notes reported FBI losses from these scams of nearly USD 4 billion in 2023 and describes common tactics such as showing victims fake account “balances” and encouraging multiple transfers, with research cited indicating victims make an average of 10 payments that increase in size. The advisory also calls on the public to share campaign information to warn others, watch for signs of victimization among friends and family, and report suspected fraud through the CFTC and the FBI’s Internet Crime Complaint Center.

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