Texas State Securities Board

Across the state, scammers are targeting Texans through dating apps, social media, and messaging platforms, posing as romantic partners, friends, or trusted advisors. These schemes often escalate into what law enforcement and regulators refer to as romance scams or pig butchering. These forms of fraud are among the fastest growing and most financially damaging scams worldwide.

What may start as a friendly message, an accidental text inviting you to a BBQ, or a connection on social media that feels like love, can quickly take a dangerous turn. Before long, you may be introduced to a rich uncle, a successful investor, or someone with insider knowledge of sure-fire investment deals. Too often, these situations end in devastating financial losses that are difficult to recover from—starting small and growing into financial ruin.

In a typical romance scam, criminals spend weeks or months building emotional trust. Victims are flooded with affection, attention, and promises of a future before being pressured to send money for cryptocurrency, online trading platforms, or other supposed investment opportunities. Once money is sent, scammers often claim additional funds are needed to recover or unlock the original investment, resulting in even greater losses.

*Have You Met the Individual Trying to Part You from Your Money?*


* Visit with a friend or family member you know before investing.
* Contact your state securities regulator to ensure the individual seeking your money has met licensing requirements - Contact Your Regulator - NASAA [ [link removed] ].

* **Be cautious if an online relationship:*


* Promotes cryptocurrency or “can’t miss” investment opportunities
* Pushes secrecy (“Don’t tell anyone about us”)
* Tells stories that frequently change or don’t add up
* Avoids video calls or in-person meetings
* Creates urgency or pressure to act quickly

If it feels rushed, secretive, or too good to be true, it probably is.

*If you believe you may be the victim of a romance or pig-butchering scam:*


* Stop communicating immediately
* Do not send additional money
* Report the profile to the platform where contact began
* Contact your financial institution right away

*Early reporting can help limit losses and protect other Texans from becoming victims. *

If you believe you have been targeted by an impersonation scheme, romance scheme or any other fraudulent securities activity, please contact the Enforcement Division of the *Texas State Securities Board*. We are available by telephone at 512-305-8392 or email at [email protected].




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