The Pig Butchering Scam!

Patrick Boyle On Finance

Patrick Boyle

Investing, Business

4.9 • 320 Ratings

🗓️ 29 June 2024

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Send us a textEvery year, people around the world lose millions of dollars to a sophisticated scam known as “the pig butchering romance scam”. The scam takes its name from the victims, who the scammers call “pigs” that they "fatten up" before slaughter. It usually begins with a text message that appears to be a wrong number. People who respond are lured into a long conversation with a good-looking and wealthy stranger who eventually offers to teach them how to make money with crypt...

Transcript

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0:52.6	Speedgoat 7, run wilder. Explore more on hoker.com. Hello and welcome. You are listening to
1:02.8	Patrick Boyle on Finance, a podcast exploring ideas from quantitative finance, examining events
1:09.5	occurring in markets right now and financial history
1:12.2	to see what lessons can be taken away, including interviews with some of the most interesting
1:17.5	people in the world of finance. To learn more about the podcast, visit onfinance.org.
1:27.4	The pig butchering scam typically begins with a fairly ordinary message that arrives from a person you don't recognize.
1:35.3	It might be a text message that looks like a wrong number, or it might be a message that arrives on LinkedIn, Instagram, or even an online dating site.
1:45.6	Sometimes it's even a scam comment under a YouTube video that you've been watching.
1:50.5	A lot of people receive these messages and ignore them, either suspecting a scam or they
1:56.5	just don't feel like responding.
1:59.0	Those who do reply find the usually attractive stranger
	...

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