Police Scotland said a 51-year-old woman in Banchory, Aberdeenshire, was duped out of a six-figure sum of money.
A 64-year-old woman who lives in South Yorkshire has been arrested and charged and police said a report will be submitted to the procurator fiscal.
She is expected to appear in court at a later date.
Police Scotland Detective Inspector Martyn Thomson said: “It’s very easy to fall victim to romance fraud, with people understandably reluctant to come forward and report it.
“However, I would strongly urge that if you are a victim that you report the matter to police.
“North East Division recently implemented the specialist Divisional Cyber Enabled Crime Team in response to tackling such criminality and as today’s arrest demonstrates, we are fully committed to bringing offenders to justice to further safeguard our communities.
“If you suspect you have been a victim of Fraud, please contact Police Scotland on 101.”