Warning about the 'pig butchering' scam on social media.

According to the Vietnam News Agency correspondent in Sydney, the Australian Federal Police (AFP) is warning about a sophisticated scam called "pig butchering" in the country, in which fraudsters lure victims into befriending them on social media and investing in fake platforms.

Chris Goldsmid of AFP's cybercrime unit explained that the tactic of "pig butchering" scammers is to spend a long time gaining the trust of their victims before luring them into financial windfalls.

He outlined the specific steps involved in this type of crime, including: image building, psychological manipulation, investment fraud, and withdrawal of funds. First, the scammers often project an image of a wealthy individual, usually a successful business owner or investor, seeking friendship but currently too busy to meet in person. Next, the scammer sends daily messages to the victim to build rapport.

Over time, the scammer flaunts their wealth, showing off newly purchased expensive items and luxurious trips . When victims ask how to get rich, the scammer lures them to a fake investment website that looks exactly like a well-known one. After "investing" in this fake website, victims are provided with fake weekly, monthly, or yearly investment reports showing their investment growing, and they continue to deposit money. Finally, when the victim refuses to invest further, wants to withdraw their profits, or after a period of time, the scammer withdraws the money and disappears.

Mr. Goldsmid emphasized that this was the first time AFP had published details of the steps involved in this scam, aiming to raise public awareness of the tactics used by criminals.

Furthermore, some criminals also persuade victims to open bank accounts to carry out money laundering or illegal drug trafficking. According to Mr. Goldsmid, criminal gangs are luring Australians to send money overseas and using this money to finance other serious criminal activities. The latest Scamwatch data shows that victims lost up to AUD 40 million (USD 26.5 million) in romance scams alone in 2022.

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

According to Thanh Tu/VNA

Source: https://doanhnghiepvn.vn/chuyen-doi-so/canh-bao-ve-thu-doan-lua-dao-pig-butchering-tren-mang-xa-hoi/20240312091524168