Romance Scam Victimization: A Survey-Based Examination of Financial, Psychological, and Reporting Factors

Romance scams are a growing type of cybercrime in which perpetrators develop and exploit fraudulent romantic relationships with victims to obtain financial resources. These schemes cause substantial economic and psychological damage, yet they are significantly underreported. Official 2022 reports indicate only $1.3 billion lost to romance scams in the US, but the true financial toll is likely much higher. Using survey data from 366 victims, this study examines the financial and psychological toll of romance scams, reporting patterns, obstacles to seeking help, and victims' perceptions of received help. Most of the victims (60.9%) did not seek help from any source, either formal institutions or personal contacts. A Chi-Square test (chi-square(1, N = 366) = 13.94, p < 0.001) confirmed that victims who depend exclusively on informal support were significantly less likely to engage formal reporting mechanisms. In addition, greater financial losses appeared to be linked to higher rates of suicidal ideation. The findings suggest that the increased performance and per-ceived helpfulness of formal institutions may increase their use, provide more accurate reporting, and lead to better outcomes. Further research should evaluate how improvements, including a centralized victim assistance organization, can improve victim outcomes and mitigate financial and psychological consequences.