Romance Scams on the Rise and Elderly are Particularly Vulnerable

They say, “you can’t buy love,” but scammers have figured out a way to exploit it for profit.

Romance scams are at an all-time high and, while victims cross all demographics, the Federal Trade Commission (FTC) reports that elders are increasingly targeted. Why? Because they often have retirement savings at their disposal and may be more be isolated and less tech savvy.

“Romance scammers often manipulate emotions to gain trust,” says Mark Kwapiszeski, head of enterprise fraud for PNC. “Those who fall victim end up putting feelings above logic. This can create embarrassment and, as a result, the...