Massachusetts Attorney General, AAA, issue warning on pig butchering scams

BOSTON – The Massachusetts Attorney General and AAA are looking to warn the public concerning pig butchering scams.

In pig butchering scams, victims are approached on dating, social media, or messaging apps and lured into making larger and larger investments.

According to AAA, it can start innocently with a random text message, a wrong number or a dating app response. Soon, you are corresponding with the person, talking about your families and exchanging personal information.

The Attorney General’s Office states that the term “pig-butchering” is based on the practice of fattening a hog before slaughter. At first, the scammer will make sure to post what looks like a gain on the investment. The scammer may even allow the victim to withdraw money once or twice to convince them the investment is safe and induce them to invest more additional funds—sometimes hundreds of thousands of dollars. At that point, the victim’s funds have been stolen by the scammer. The victim’s pleas for the return of their funds result only in demands for more money, often in fabricated taxes and fees.

How to Spot and Avoid a Romance or “Pig-Butchering” Scam:

• Tell the person that you don’t have any money to invest right now; if they disappear, they were probably trying to scam you.
• Relationships that develop quickly are a scam warning sign, especially if the person asks for money or refuses to video chat.
• Try using a reverse image search to see if the person is using someone else’s photo.
• If you’re asked to pay taxes and fees to withdraw your money, it is likely a scam.
• Use extreme caution when considering large cryptocurrency investments.
• If an investment seems too good to be true, it probably is.