FinCEN alert on 'relationship investment' scams

FinCEN has issued a reminder to financial institutions to remain vigilant regarding suspicious activity that may be indicative of relationship investment scams. The Commodity Futures Trading Commission launched the #DatingOrDefrauding national awareness effort to alert the public to relationship investment scams targeting Americans through wrong-numbered texts, dating apps, and social media. Losses from romance and confidence scams reported to the Federal Bureau of Investigation exceeded $650 million in 2023.

FinCEN has previously published several resources to help stakeholders identify and report illicit financial activity that may be indicative of relationship investment scams and other types of romance and confidence scams:

• Alert on Prevalent Virtual Currency Investment Scam Commonly Referred to as “Pig Butchering” by Perpetrators (September 2023)
• Advisory on Elder Financial Exploitation (June 2022)
• Financial Trend Analysis: Elder Financial Exploitation: Threat Pattern & Trend Information, June 2022 to June 2023 (April 2024)
• Financial Trend Analysis: Mail Theft-Related Check Fraud: Threat Pattern & Trend Information, February to August 2023 (September 2024)