Online Investment Scam Warnings
This website and blog posting organization was created to warn and help those who need to report Online Financial Scams such as Pig Butchering, Dating Site Scams, Crypto Scams and the growing online fraudulent activities causing massive losses on innocent victim’s life savings.
Pig Butchering
A pig butchering scam is a type of long-term scam and investment fraud in which the victim is gradually lured into making increasing contributions, usually in the form of cryptocurrency, to a fraudulent cryptocurrency scheme.[1] They are commonplace on social apps, where, in October 2023, twelve percent of Americans using said apps had been victims, up from five percent in 2018.[2] The scammer builds trust with the victim through online communication, subsequently persuading them to invest in a fraudulent cryptocurrency scheme. The “butchering” or “slaughtering” of the victim transpires when their assets or funds are stolen.[3]
Perpetrators are typically victims of a fraud factory,[4] lured from abroad under false pretenses and then forced to commit the fraud by organized crime gangs.[5] Many operations are run from areas of Myanmar which are outside central government control due to the ongoing civil war, with one important hub being the town of Myawaddy in Kayin State, near the border with Thailand. Many of the gangs running pig butchering scams, along with the people forced to commit the fraud, are ethnically Chinese.[6]
Dating Site Scams
Romance scams occur when a criminal adopts a fake online identity to gain a victim’s affection and trust. The scammer then uses the illusion of a romantic or close relationship to manipulate and/or steal from the victim.
The criminals who carry out romance scams are experts at what they do and will seem genuine, caring, and believable. Con artists are present on most dating and social media sites.
The scammer’s intention is to establish a relationship as quickly as possible, endear himself to the victim, and gain trust. Scammers may propose marriage and make plans to meet in person, but that will never happen. Eventually, they will ask for money.
Scam artists often say they are in the building and construction industry and are engaged in projects outside the U.S. That makes it easier to avoid meeting in person—and more plausible when they ask for money for a medical emergency or unexpected legal fee. – Source FBI
https://www.fbi.gov/how-we-can-help-you/scams-and-safety/common-scams-and-crimes/romance-scams
Advance Fee Scam
An advance-fee scam is a form of fraud and is one of the most common types of confidence tricks. The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster claims will be used to obtain the large sum.[1][2] If a victim makes the payment, the fraudster either invents a series of further fees for the victim to pay or simply disappears.[3][4]
Sources to Contact if you are a Victim
