Local News

The Oregon Division of Financial Regulation (DFR) is warning consumers to be wary of romance scams and so-called “relationship investment scams,” a fast-growing form of fraud that blends emotional manipulation with fake investment opportunities.

DFR says in a release that relationship investment scams are a recent and damaging type of 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.

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.

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.

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.