Romance scams are flourishing in silence, and the numbers demand that we change how we talk about them. According to the FBI’s Internet Crime Complaint Center, Americans age 60 and older reported losing approximately $584 million to romance scams in a single recent reporting period, a 50 percent increase from the prior year. Law enforcement warns that the true figure is far higher, because shame and embarrassment prevent most of those targeted from ever filing a report.
Meyer Wilson Werning founding partner David Meyer believes the conversation around these schemes needs a fundamental shift.
“Romance scams and other forms of elder financial exploitation are not just crimes,” Meyer said. “They have become a public health crisis. These scams devastate lives by preying on loneliness, trust, and vulnerability, often leaving people with financial ruin, emotional trauma, and damaged relationships with their families.”
If you or a family member suffered financial losses connected to a romance scam through a brokerage account or investment advisor, the experienced financial advisor negligence attorneys at Meyer Wilson Werning are reviewing claims now. Contact us today for a free and confidential consultation, and you pay nothing unless we recover for you.
Why Ohio’s Romance Impostor Scams Forensic Initiative Matters
The Ohio Attorney General’s Office has launched its Romance Impostor Scams Forensic Initiative, treating these schemes as the organized criminal enterprises they are. The initiative includes a dedicated hotline at 1-855-961-SCAM (7226), downloadable awareness materials including hotline cards and palm cards, and coordinated forensic intelligence sharing designed to disrupt networks before they claim additional lives and savings.
Courtney Werning, principal attorney at Meyer Wilson Werning and a current board member of the Public Investors Advocate Bar Association (PIABA), sees this as meaningful progress.
“Ohio is taking an important step toward treating these scams like the organized criminal enterprises they are,” Werning said. “The quicker investigators can identify patterns and share intelligence, the better chance we have of protecting people and stopping these networks before they claim more lives and savings.”
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The Case for Treating Romance Scams as a Public Health Crisis
For too long, romance scams have been framed primarily as criminal matters. David Meyer argues that framing fundamentally undersells the scope of the problem and limits the response available to those who have been harmed.
“Given the massive scope, sophistication, and financial ruin caused by these schemes, we should be leading in calling this what it is: a public health crisis,” Meyer said. “Just as we treat addiction and domestic violence as public health issues requiring coordinated, multi-sector responses, elder financial exploitation demands the same urgency from law enforcement, financial institutions, regulators, healthcare providers, and advocates.”
How Romance Scams Target Older Adults in Ohio
The pattern is consistent and deliberate. A fraudster establishes contact through a dating platform, social media, or direct messaging, invests weeks or months building emotional trust, and then introduces financial requests. According to the FBI and the Ohio Attorney General’s Office, those requests typically involve wire transfers for a fabricated emergency, gift card purchases, sharing of account credentials, or transfers to fraudulent investment platforms.
Family members and caregivers should watch for these warning signs:
- Unexplained or unusually large withdrawals, wire transfers, or repeated gift card purchases
- Secrecy about a new online relationship or reluctance to discuss financial decisions
- Withdrawal from family members and longtime advisors
- Sudden changes in account beneficiaries or financial documents the older adult cannot clearly explain
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When a Romance Scam Intersects With a Financial Account
A romance scam that causes an older adult to move money through a brokerage account or investment advisor raises questions that go beyond criminal enforcement. Brokers and financial advisors are subject to securities industry rules requiring them to monitor accounts for signs of financial exploitation, particularly involving older or vulnerable clients. When a regulated professional allows suspicious transactions to proceed without acting on clear red flags, the affected investor may have independent grounds for a recovery claim.
When losses have flowed through a brokerage account or investment advisor, consulting with a securities attorney is an important step alongside reporting to law enforcement.
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Ohio Resources for Reporting Romance Scams
- Ohio AG Romance Scam Hotline: 1-855-961-SCAM (7226)
- Ohio AG Elder Justice Unit: 800-282-0515
- Ohio Adult Protective Services: 855-644-6277
- Ohio Division of Securities Investor Protection Hotline: 877-683-7841
- FBI Internet Crime Complaint Center: ic3.gov or 1-800-CALL-FBI
Romance scam losses that flow through a brokerage or investment account may also be recoverable through the FINRA arbitration process, which provides a separate forum for claims against brokers and brokerage firms.
For over 25 years, Meyer Wilson Werning has recovered more than $350 million for investors harmed by fraud and misconduct, including cases involving elder financial exploitation and the failure of financial professionals to protect their clients. If you or a family member suffered losses connected to a romance scam through a brokerage account or financial institution, contact us today for a free and confidential consultation. You pay nothing unless we recover for you.
Frequently Asked Questions
What is Ohio’s Romance Impostor Scams Forensic Initiative?
The Ohio Attorney General’s initiative is a coordinated enforcement and awareness effort that treats romance scams as organized criminal networks. It includes a dedicated hotline at 1-855-961-SCAM (7226), downloadable public awareness materials, and forensic coordination intended to identify patterns and disrupt operations targeting Ohio seniors.
Why does David Meyer call romance scams a public health crisis?
Meyer Wilson Werning founding partner David Meyer argues that the scale, sophistication, and financial ruin caused by romance scams have outgrown the criminal enforcement framework alone. A public health framing calls for coordinated prevention, early identification, and multi-sector accountability from law enforcement, financial institutions, and healthcare providers, not just prosecution after the fact.
Can I pursue a legal claim if a broker failed to protect a family member from a romance scam?
Possibly. Securities industry rules require brokers and financial advisors to monitor accounts for signs of financial exploitation, particularly involving older or vulnerable clients. When a regulated professional allows suspicious transactions to proceed without acting, the affected investor may have grounds for a recovery claim through arbitration or litigation.
How much money are older Americans losing to romance scams?
According to the FBI’s Internet Crime Complaint Center, Americans age 60 and older reported approximately $584 million in romance scam losses in a single recent reporting period, a 50 percent increase from the year before. Authorities believe the true figure is significantly higher due to chronic underreporting.
How do I report a romance scam in Ohio?
Ohio residents and families can report to the Ohio AG hotline at 1-855-961-SCAM (7226), the Elder Justice Unit at 800-282-0515, Ohio Adult Protective Services at 855-644-6277, or the FBI at ic3.gov. If a brokerage account or financial advisor was involved, also contact the Ohio Division of Securities at 877-683-7841.
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