In Pig Butchering scams, victims, known as 'pigs' to the scammers, are lured into false belief of a close relationship through elaborate storylines. These scams often involve fraudulent crypto investments or financial schemes, where scammers use fake identities to gain trust and exploit their victims.
How Does it Work?
- Scammer poses as an investment expert.
- Establishes trust and presents a promising investment opportunity.
- Victim transfers money to a fake online account.
- Scammer vanishes with the funds.
Don’t be the next victim. Check out these helpful tips:
- Avoid sharing financial or personal identifying information (PII) with unknown contacts AND DO NOT SEND MONEY.
- Be cautious of online investment advice.
- Verify legitimacy of investment platforms.
- If you suspect fraud, don’t pay extra fees or taxes to withdraw your money.
- Don’t pay for services promising to recover lost funds.
Numbers Don’t Lie
- In a single year nearly one billion consumer emails have been exposed to potential scammers.
- More than 400 million ransomware attacks occur in a given year.
- Around half of all internet users have had an account breach.
Report the bad guys! The FBI requests victims report these types of fraudulent or
suspicious activities to the FBI IC3 at www.ic3.gov.
NMLS #407985