This month I have come across the Pig Butchering Scam. And it is not Kosher!
Pig butchering scams lure victims through promises of romance or investment opportunities, building trust through friendly conversation over weeks,even months before introducing fraudulent trading or cryptocurrency opportunities.
The victim may see some returns on their investments, but these are often staged to further gain trust. Eventually, the victim invests larger amounts, leading to enormous losses and the scammer “ghosts” the victim, leaving them with an empty bank account. This process is known as “pig butchering” and is named after the practice of fattening a pig before slaughter.
DID YOU KNOW! There’s a publication available from the ACCC, The Little Black Book of Scams – to either download or order a hard copy, for FREE from their website.