Warning about 'pig butchering' scams on social media

According to a VNA correspondent in Sydney, the Australian Federal Police (AFP) is warning about a sophisticated form of fraud called “pig butchering” in the country, in which scammers lure victims into making friends on social networks and investing in fake platforms.

Chris Goldsmid of AFP's cybercrime unit said the "pig butchering" scammers spend a long time gaining the trust of their victims before luring them into financial fortunes.

He detailed the steps of this type of crime, including: image building, psychological manipulation, investment fraud and withdrawal. First, the scammers often build the image of a rich person, often a successful business owner or investor, looking for friendship but currently too busy to meet in person. Next, the scammer texts the victim every day to make friends.

Over time, the scammer flaunts his wealth, his new expensive purchases, and his luxury vacations . When the victim asks how he can get rich, the scammer leads him to a fake investment website that looks exactly like a popular investment website. After “investing” on this fake website, the victim is provided with fake investment reports on a weekly, monthly, or yearly basis, showing that his investment is growing, and he continues to invest. Finally, when the victim refuses to invest more or wants to withdraw the profits, or after a period of time, the scammer withdraws the money and disappears.

Mr Goldsmid stressed that this was the first time AFP had published details of the steps taken to carry out this scam, aiming to raise public awareness of the tricks used by criminals.

Some criminals also convince victims to open bank accounts to launder money or transport illegal drugs. Mr Goldsmid said criminal gangs are enticing Australians to send money overseas and use it to fund other serious criminal activities. The latest Scamwatch data shows victims lost up to 40 million AUD ($26.5 million) in romance scams alone in 2022.

AFP believes the number is even higher as many victims do not report to the authorities because they are embarrassed. Therefore, Mr Goldsmid recommends that people who have been scammed should report it to the authorities and tell their friends, family or community about what happened because the more people know about the scam, the harder it is for criminals to target others.

According to Thanh Tu/VNA

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