The Expert Podcast

• Online scams and fraud are much larger than commonly perceived, with staggering financial implications.
• According to Bloomberg, pig butchering scams alone have netted over $75 billion, making them one of the most prevalent types of fraud.
• If this illicit industry were a publicly traded entity, it would rank among the top 50 companies in the country, surpassing many well-known Fortune 500 companies.

• Pig butchering is a deceptive scheme where scammers reach out, typically through social media, offering investment opportunities.
• Initially, they lure victims with small investments, often just a few hundred or thousand dollars.
• They promise substantial returns, presenting fake account statements to fabricate profits and build trust.
• As victims invest more, the scammers continue to promise exponential returns, encouraging larger investments.

• The scam escalates with promises of doubling investments in a week or less.
• When victims attempt to withdraw their funds, scammers invent excuses such as taxes, audit fees, or other fabricated charges to extort more money.
• Some victims realize the scam at this point, while others exhaust their finances trying to recoup their investments.

• The scale of pig butchering scams highlights the sophistication and profitability of online fraud.
• At $75 billion, these scams surpass the annual revenues of major financial institutions like Goldman Sachs and corporations like General Electric.
• This alarming trend underscores the urgent need for heightened awareness and proactive measures to combat online fraud.

• If you've fallen victim to such scams, resources are available to provide support and guidance.
• Click the link below for access to consulting services aimed at assisting victims of online fraud.
• Together, let's confront the pervasive issue of online scams and work towards a safer digital landscape.