Don’t Let Scammers Steal Your Love – and Your Life Savings this Valentine’s Day

COLUMBUS, Ohio - As Valentine's Day approaches, the Ohio Department of Commerce Division of Securities is alerting Ohioans to a surge in scams involving online relationships. Romance scams are among the most damaging forms of financial fraud and often lead to devastating financial losses, especially for older individuals.

The threat is real and growing. According to the FBI's Internet Crime Complaint Center (IC3), in 2024, 7,626 individuals over the age of 60 reported losing more than $389 million to romance scams. In Ohio alone, over 21% of the administrative orders - or enforcement actions - issued by the Division of Securities in 2024 and 2025 were related to romance scams. This underscores the persistent nature of these crimes.

"There are few things more dangerous than mixing emotions with online investments," said Ohio Securities Commissioner Andrea Seidt. "Romance scammers thrive on individuals who make that mistake. The safest move is simple: run every online investment tip from those digital darlings past a licensed professional here in the U.S. There is no turning back after you click 'send,' so make sure you're protecting both your heart and your financial future by confirming the legitimacy of every investment you make."

The Division of Securities urges Ohioans to always remain cautious when interacting with new acquaintances you meet online, especially if the discussion ever turns to investments or any kind of request of money.

Common warning signs of romance scams include:

• Reluctance to meet in person or via video - Scammers often avoid face-to-face contact or video calls to hide their true identity.
• Long-distance relationship claims - Scammers may say they live far away or frequently travel to discourage in-person visits.
• Exaggerated wealth or success - Fraudsters often boast about financial achievements and use fake screenshots to lure victims into "exclusive" investment schemes.
• Pressure to provide money or invest - After building trust, scammers may ask for financial help or introduce fraudulent investment opportunities.
• Requests to keep conversations secret - Scammers will often tell someone to not share details of their conversations with family or friends. This is a major red flag.

Ohioans can protect themselves by following these simple rules:

• Never send money or gifts to someone you haven't met in person.
• Stop communicating immediately if you suspect a scam.
• Talk to someone you trust. Friends and family can often spot red flags since they aren't as emotionally involved.
• Do not transfer funds via unregulated apps or platforms based on tips from someone you met online.
• Always verify credentials using free tools like the SEC's Investment Adviser Public Disclosure database or FINRA's BrokerCheck.
• Be skeptical of guarantees and screenshots showing huge returns. These are classic signs of fraud.

If you suspect you've been targeted by a romance scam or investment fraud, contact the Division's Investor Protection Hotline at 1-877-683-7841 or email [email protected].

The Ohio Department of Commerce also offers an online resource at com.ohio.gov/RomanceScams that outlines tactics commonly used in these scams, as well as actionable steps to protect yourself and your finances.

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Janice Hitzeman (HITS-min), Attorney Inspector, Division of Securities, Ohio Department of Commerce
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About the Division of Securities
The Division of Securities is part of the Ohio Department of Commerce. The department is Ohio's chief regulatory agency, focused on promoting prosperity and protecting what matters most to Ohioans. We ensure businesses follow the laws that help them create jobs and keep Ohioans safe. To learn more about what we do, visit our website at com.ohio.gov.