GARDAI in Limerick are warning the public about a new romance scam called “Pig Butchering”.
This sophisticated scam is occurring all over the world and targets individuals that are seeking love and companionship online.
It is a long term fraud that combines romance scams, investment schemes and crypto currency fraud. It is named after the process of progressively feeding a pig to make it bigger before it is slaughtered.
Garda John Finnerty from Henry Street garda station explained how the scam works.
“The targets are identified on dating applications. Criminals develop fake profiles uploading pictures that show attractive persons who are displaying glamorous lifestyles.
“Once a victim engages, and trust is established, the scammer will bring the subject around to success, investments and in particular crypto currencies.
“The scammer will eventually coax and guide the victim around to investing in same.
“The scammer will assist the victim with the investing process which involves fake platforms which are controlled by the scammer. Everything looks and sounds legitimate. But it’s not. It’s a scam.
“The scammer will assure the victim that they are achieving huge returns on their investment and will encourage the victim to place further funds into the investment.
“Eventually, after a long time the victim will realise that they have been scammed and that their money has gone.”
If you think that you have been the victim of a ‘Pig Butchering’ scam or any other type of scam please contact your nearest garda station.
All calls will be treated with the utmost confidentiality. If you are considering making investments seek independent
financial and legal advice
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