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One in five Americans between 25 and 34 years of age have used online dating sites, according to Pew Research.As Internet romance has become more accepted in society — and grown into a more than billion market — fraudsters have found ways to monetize the search for a partner, with organized crime rings around the globe now getting in on the action."Our clients are pouring a lot of effort into education [of online dating customers] and looking for fraud patterns," Iovation's O'Hearn said.To protect yourself, O'Hearn suggested reading the tips online dating sites provide.However, while fraud rates are relatively flat, it's becoming more sophisticated, said Molly O'Hearn, Iovations' vice president of operations and co-founder.More than 5,800 romance scam complaints were filed with the Federal Bureau of Investigation in 2014, the last year in which data are available, with a total associated losses topping million.
At this point, relationships have usually advanced from email to phone calls.
"Dating sites are a real rich playground to mine data for other scams," O'Hearn told CNBC, who added that pulling off the fraud often involves multiple people.
One person is in charge of getting the personal information.
Is it normal for a potential partner to be asking specific personal information you do not normally give out?
Also, be wary of users that ask for personal information very quickly.