The Expert Podcast

Maybe you've heard of it; maybe you haven't. Pig butchering is the scam phrase of the year, even going back a year or two for people losing money on frauds. And what happens is that pig butchering refers to fattening up a pig before you slaughter it, right? You don't want to take a baby pig that's not fat and slaughter it because you're not going to have a lot of meat on the bones. Pig butchering is a way to take a potential victim of a scam and fatten up their investment before you take them down. And the way they do it is that they start out small. They start out with small amounts of money. They ask you for a couple hundred and a couple thousand. They show you outrageous returns on your money—that your investment doubles or triples. Now you have 50,000; now you have 60,000. Put in another 10,000. And they keep getting money out of you using very clever social engineering scripts. And the people are very clever; they're slick. A lot of times they don't even talk on the phone; it's all email, WhatsApp, Instagram, or other messaging telegram apps. And they get your money. And eventually, they collected a lot of money from the victim. Now the victim starts to say, Wait a minute, I want some money back. And then they ask you for more things, like taxes, accounting fees, audit fees, and other types of fees, to get you to put in a little bit more money. And again, they're very clever. It doesn't matter how sophisticated or smart you are; they will get you if you get into that trap.

Some of it starts with luring with love, some of it starts with dating apps or a romance scam, but many times it's on social media, and they'll just show you that they made a lot of money; you should too. If you feel like you might be going down the road of a pig butchering scam or you might be involved with some type of loss, click the link below, get some consultation, and get some information about how to avoid a scam, how to get out of a scam, and maybe how to recover funds that are lost in a scam.