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Cyber Security

Single & penniless: FBI warns of $475M lost to romance scams

The FBI is warning of online romance scams, an ongoing online fraud trend that can lead to large financial losses, as well as devastating emotional scars. The 2019 Internet Crime Report published by FBI s Internet Crime Complaint Center (IC3) says that romance scams (also known as confidence fraud) are behind higher financial damages when compared to other reported online crimes. The only other type of cybercrime with a higher return on investment for threat actors is Business Email Compromise (BEC) which was the cause of almost $1.8 billion in losses.

Source: https://www.bleepingcomputer.com/news/security/single-and-penniless-fbi-warns-of-475m-lost-to-romance-scams/

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