The Australian Federal Police (AFP) has issued a stern warning about the rising threat of “pig butchering” scams, also known as romance baiting, targeting Australians. These devious scams promise friendship and financial gain, costing Australians up to $3,800 every hour in 2023.
Acting Assistant Commissioner of Cybercrime Command, Chris Goldsmid, has revealed new insights from a seized manual detailing the methods used by these scammers to exploit multicultural communities and the broader public. Unlike traditional romance scams that often begin on dating apps, pig butchering schemes typically start with unsolicited messages on various platforms, invoking the idea of fate or divine intervention.
These scammers spend months or even years building trust and presenting a facade of affluence, only to lure victims into fake investment platforms resembling legitimate sites. When victims attempt to cash out, they are hit with demands for additional fees or taxes, with scammers often resorting to emotional manipulation or threats to extract more money.
The AFP emphasizes the importance of recognizing warning signs, such as unsolicited messages from strangers claiming to be wealthy investors or business owners. These offenders often use pet names and discuss themes of destiny while avoiding in-person meetings.
The pig butchering manual outlines four stages of the scam: packaging, raising, the investment con, and cashing out.
Despite a reduction in reported losses last year, scams remain a persistent threat. The AFP urges victims to come forward and report their experiences, as increased awareness and cooperation with financial institutions are crucial in combating these crimes. The National Anti-Scam Centre, in collaboration with the AFP, continues to enhance efforts to protect the public and bring scammers to justice.
Victims are encouraged to report cybercrime to ReportCyber, and if there is an immediate threat to safety, to contact emergency services. By sharing experiences and staying informed, Australians can help thwart the operations of organized crime groups that exploit romance and trust for financial gain.
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