Romance Scams in Montana: What You Need To Know

The Commissioner of Securities and Insurance in Montana is urgently warning residents about the increasing prevalence of romance scams in the state.

The Rising Threat of Romance Scams

Romance scams, where people pretend to be someone they're not to trick others into giving them money, are a big problem. These scammers create fake personas to lure in people looking for love or friendship online. Once they gain the victim's trust, they ask for money or steal it. It's alarming that by September 2024, romance scams had already resulted in a loss of $823 million, as reported by the Federal Trade Commission.

Montana's Unique Vulnerability

Montana, with its distinct challenges, faces a heightened risk of falling prey to romance scams:

Geographical Isolation: in many areas can lead to social isolation, making individuals more susceptible to online manipulation.

Caring Reputation: Montanans' reputation as being caring and neighborly may increase their willingness to trust others easily.

High Internet Crime Losses: The state ranked seventh highest in per capita internet crime losses in 2023, per the FBI's Internet Crime Complaint Center (IC3).

Protecting Yourself from Romance Scams

To protect themselves from romance or investment scams, people in Montana should take these steps recommended by the CSI:

Be Skeptical: Exercise caution when online acquaintances refuse to meet in person or solicit money.

Seek Trusted Advice: Consult with friends or family members for an objective perspective on any questionable online relationships.

Avoid Money Requests: Never send money to individuals you haven't met in person, regardless of their proclaimed feelings.

Reporting Fraud

If you think you may have been a victim of a romance scam, you should report the suspected fraud right away. Complaints can be reported at csimt.gov/file-a-complaint-2 or by calling 406-444-3815.

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The Montana Commissioner of Securities and Insurance plays a vital role in regulating the insurance and securities industries in the state.