If you’re a fan of late-night TV, you may have recently seen a piece done by one of my favorites, John Oliver. His show, Last Week Tonight (on HBO/Max), aired a segment recently on an internet scam known as “pig butchering“. This is something everyone should be aware of, as it’s not just intended to target the elderly or the “unsophisticated” web user. Lots of everyday people are falling victim to this (including a bank manager, according to the piece) as it starts out feeling innocent and the scammer never even asks for money. And (surprise-surprise) the scammers are often making initial contact on social media (including LinkedIn), dating apps, and even as a “wrong number” text that develops into a conversation.
In a nutshell, the scam involves convincing the target to start investing through a bogus app that—you guessed it—never actually makes them any money. It just keeps allowing them to buy into the investments, but is actually just sending the money directly into the scammers’ bank accounts. It’s a bit more sophisticated than that, so watch the video to understand it a little better.
Tell Your Friends & Family – Pig Butchering Isn’t Just for Bacon or Ham!
Please, please, please… share this information with everyone you know. The only way to stop scams like this are to make them unsuccessful. Please feel free to share this post, or even just the link to the John Oliver video so the people you care about are aware and informed.