Beware of “romance scams”

The Consumer Financial Protection Bureau is urging consumers to beware of romance scams!

According to the CFPB, “a romance scam is when a new love interest says they love you, but they really just love your money. And, they may not be who they say they are.”

The CFPB offers these warning signs to look for:

A new love who lives far away asks you to wire money or share your credit card number, even if they say they will pay you back.

Your new romantic interest asks you to sign a document that gives them control or your house or your finances.

Your new love asks you to open a new joint account or to co-sign a loan with them.

Your new love interest asks for access to your bank or credit card accounts.

In-person romance scams should be reported to local law enforcement agencies. Online scams can be reported to FTC.gov/complaint.

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