 Consumers lost over a billion dollars to romance scams in 2023. That's according to the Federal Trade Commission. The FTC found that roughly 40% of people who had lost money to a romance scam found that that scam started on social media. Median losses per person were about $2,000 and almost three quarters of those who had been scammed were men. Consumer and Business News, Erin Royale, NBC Newsradio.