Pig Butchering: Even the Scammer is a Victim
Have you received a kind message from an unknown number? The FBI reported that messages such as “It’s been a while. How are you?” or “What have you been up to lately?” are the beginning of a scam that cost Americans $429 million in 2021. This scheme is called “pig butchering” because of how scammers build a trusting relationship with their victims and leave them once they have drained them of their money; like fattening a pig to butcher. However, this scam runs even deeper since victims are on both sides of the phone.
Recruitment
Pig butchering originated in Southeast Asia, where gangsters scout skillful people by listing a lucrative job opportunity. Candidates apply, flaunting their degrees and language skills, hoping to land a career at, what appears to be, a successful tech company. After a series of successful interviews, job seekers were transferred from a hotel to “prison cities”. These compounds are run by gangsters that imprison the trafficked humans to become the scammers sending out messages.
Rapport
Trafficked scammers target victims on social media platforms, such as WhatsApp, LinkedIn, and Tinder. With a fake persona, the scammer befriends users to gain their trust. Building rapport is a time consuming and tedious process, which is why gangsters force trafficked humans to form deep relationships. They are equipped with a backstory, pictures and even bedroom backdrop in case they need to send a short video. These victims spend 12- to 16- hours per day sending endearing messages and pictures to lure in unsuspecting Americans.
The Script
Formerly imprisoned victims reported being trained to follow a script for weeks. Instead of asking for money, they are taught not to ask for money at all. Instead, they spark intrigue by fabricating a story about how easily they generated their income via cryptocurrency. The user is directed to a website, created by the scammers, and instructed to “invest” a small sum. These websites are designed to mimic real online trading sites where victims can see the “growth” of their funds. Thinking their friend or love interest taught them the secret to investing, the user continues to invest with larger sums. When the scammer senses that the victim has invested most of their money, they ask them to withdraw it for a desperate need. When trying to withdraw from the website, other scammers running a fake customer support page ask the user for vulnerable information to verify the account information and charge a large final fee. Once the final fee has been delivered, the scammer ends all communication with the user.
Efforts to deter this organized crime are slow in development due to the distance and nature of the scheme. For best practices, report or block unsolicited messages from unknown numbers and never send money to someone you do not know. If receiving a link to a website, it is important to act with caution whether you know the sender or not. Research all businesses or apps before agreeing to invest with them. Contact us at [email protected] to learn how we can help safeguard your assets.