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Banks Confront Broken Hearts With Romance Scams Reaching Records

June 29, 2022, 2:30 PM

It’s an age-old tale: love gone wrong, a jilted partner left in the lurch. Only now, the story is colliding with the very modern phenomenon of online fraud.

Digital romance scams have surged over the past two years, leading to millions of dollars in losses for people who were wooed and then duped out of money. While con artists have long been a part of life on the internet, experts say the trend exploded as Covid-19 lockdowns created the perfect opportunity for swindlers seeking lonely targets.

Now the world has opened back up, but some shifts in communication — virtual chats and ...