The Federal Trade Commission, the nation’s consumer protection agency, warns that scammers sometimes use online dating and social networking sites to try to convince people to send money in the name of love.
In a typical scenario, the scam artist creates a fake profile, gains the trust of an online love interest, and then asks that person to wire money—usually to a location outside the United States.
“If you’re giving up a year of your life to look at 60, it’s a big chunk of the time you have left,” he adds.
“At a certain point you have to apply what economists call search theory.
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