Millions Lost to Romance Scams

Perth, Feb 5: Investment scams costing Australians $172.2 million, phishing $31.1 million and romance scams $28.7 million were the biggest sources of financial losses in 2025, according to new data released by the National Anti-Scam Centre ahead of Valentine’s Day.
In a season often associated with lonely hearts looking for love, authorities are warning Australians not to let emotion override caution, with romance scams continuing to cause severe financial and psychological harm.
Figures published on Scamwatch show romance scams alone resulted in $28.6 million in losses between January and December 2025, a 21.8 per cent increase, affecting 1,330 Australians. More than 80 per cent of losses stemmed from online contact, including social media platforms, dating apps and online forums.
The Australian Competition and Consumer Commission said scammers rely on carefully rehearsed tactics to build trust quickly before steering victims toward requests for money, gifts or personal information.
ACCC Acting Chair Catriona Lowe said Valentine’s Day was a critical moment for families and friends to talk openly about online relationships and scam warning signs.
“Romance scammers operate all year round, but the lead up to Valentine’s Day is a good time to have a heart-to-heart with loved ones and build awareness of how these scams work so we can help people better protect themselves and others,” Lowe said.
“Criminals exploit technology, trust, and emotion for financial gain. Reporting suspicious activity to Scamwatch and sharing what you know can stop them from causing further harm and protect others.”

A familiar pattern

The National Anti-Scam Centre said romance scams often follow a predictable pattern, beginning with intense emotional connection and escalating toward financial demands.

Common tactics include:

• forming fast emotional bonds by mirroring values and interests
• moving conversations off dating apps to private messaging platforms
• avoiding in-person meetings using excuses such as overseas work or military service
• introducing financial requests that start small and increase over time
• creating urgency or secrecy to discourage victims from speaking to others

“These criminals will not only steal money — they cause significant emotional trauma, often leading to mental health crises and family breakdown,” Lowe said.
She urged Australians never to send money, cryptocurrency or gift cards to someone they have not met in person, and warned against taking investment advice from online contacts.

Other scam trends

The final-quarter Scamwatch data provides a full snapshot of scam activity in 2025, showing:

• $334.9 million lost to scams overall, a 5 per cent increase year-on-year
• 200,675 scam reports, down 19.6 per cent
• 28,202 reports involving financial loss
• a 20 per cent drop in median loss, from $500 in 2024 to $400 in 2025

Investment scams remained the most damaging category, followed by phishing and romance scams. Shopping scams affected the highest number of people, with 12,248 victims reporting losses.
Online scams accounted for $158.5 million, causing double the financial harm of any other delivery method.

How to protect yourself

Authorities continue to promote the Stop. Check. Protect. approach:

• Stop before sharing money or personal details
• Check who you are really dealing with using official sources
• Protect yourself by acting quickly if something feels wrong

Australians who believe they have been targeted are urged to contact their bank immediately, report incidents to Scamwatch, and seek support through services such as IDCARE.
Support is also available through Lifeline (13 11 14) and Beyond Blue (1300 22 4636) for those experiencing emotional distress after being scammed.