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  Geebo 8:00 am on June 12, 2023 Permalink | Reply
  Tags: cryptocurrency ( 50 ), pig butchering scam ( 14 ), romance scam, Scams ( 1,354 )   

  Romance scammers threaten more than your heart 

  

  By Greg Collier

  One of the more lucrative romance scams is what’s known as the ‘pig butchering’ scam. It got this unfortunate name because the scammers will virtually ‘fatten’ their victims before leading them to financial slaughter.

  Typically, in a pig butchering scam, it starts off like any other romance scam. Once the scammer has gained their victim’s confidence, the scammer will advise the victim to invest in cryptocurrency. The victim is directed to a phony cryptocurrency exchange run by the scammers. The phony exchange will make it appear as if the victim’s investment is multiplying by leaps and bounds. However, once the victim tries to reap their supposed profits, they’re told they need to make an additional payment before their windfall can be released.

  This cycle can continue repeatedly if a victim does not realize they’re being scammed. Historically, when a victim realizes they’re being scammed, the scammers just disappear with the victim’s money. But in some cases, the scammers will continue to try to extort money from the victim.

  For example, a man in Iowa fell victim to the scam to the tune of $232,000. The man received an errant text message from an unknown woman. The woman said the text was meant from someone else, but the pair struck up a friendship anyway. The friendship then turned into more of a romantic relationship. After three months of this online relationship, the woman said she made a substantial amount of money through cryptocurrency, and would help the man do the same.

  Unfortunately, the man emptied his retirement account, took out a bank loan, and borrowed money from his mother, so he could make the initial $232,000 investment. He was told his investment grew almost instantly into $1.1 million, but when he tried to access that money, he was told he’d need to pay another $100,000 disguised as a tax payment.

  When the man refused to pay the money, his ‘girlfriend’ started threatening him with revealing their relationship to the man’s family. She also threatened the man’s family with violence and said she had hired agents to kill the man to harvest his organs for the black market.

  While these threats may seem convincing, the majority of these scammers are overseas and have no way of carrying out these threats.

  In order to safeguard yourself against this kind of fraudulent activity, it is crucial to steer clear of individuals who promise to assist you in earning money through cryptocurrency, especially if you haven’t had any face-to-face interactions with them. It’s important to note that cryptocurrency markets exhibit high levels of volatility, thereby increasing the likelihood of legitimate investments transforming into losses within a short span of time. Additionally, it is worth noting that scammers and cybercriminals often favor cryptocurrency as a means of payment.

   

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  Geebo 9:13 am on May 12, 2023 Permalink | Reply
  Tags: cryptocurrency ( 50 ), pig butchering scam ( 14 ), romance scam, Scams ( 1,354 )   

  $2.3 million lost to romance scam 

  

  By Greg Collier

  The romance scam is when criminals create fake online profiles to gain the trust of their victims, usually with the intention of deceiving them out of money or personal information. The scammer will often build a relationship with the victim over time, using flattery, emotional manipulation, and even fake photos and identities to gain their trust. Once the scammer has established a relationship with the victim, they will typically request money or personal information, such as bank account or credit card details. Romance scams can be particularly devastating because victims may feel embarrassed or ashamed, and may not report the crime to authorities.

  There’s even a more specific version of the romance scam that is known as the ‘pig butchering’ scam in certain circles. It’s called that because the victims are seen as the pigs that the scammers ‘raise’ before leading them to the financial slaughterhouse. In that scam, after the scammer has gained the victim’s confidence, they’ll advise the victim to invest in cryptocurrency.

  The victim is directed to a cryptocurrency exchange operated by the scammers. The victim is asked to pay the exchange for their investment, and is later informed that their investment has generated a significant return. However, when the victim attempts to withdraw their money, the exchange informs them that they need to pay additional fees to access their returns. This cycle may persist until the victim runs out of funds or becomes aware that they are being deceived.

  We often say it doesn’t matter what your education level or socioeconomic status is. Everyone has a scam with their name on it. There are so many scams affecting people today and so many new ones being created that anybody can fall for one scam or another.

  That’s what happened to a wealthy woman from Southern California. She met a man through a dating platform that only caters to the rich. Users of the platform have to verify their identity by submitting their driver’s license along with their tax return. As secure as that sounds, that didn’t stop from romance scammers from accessing the platform.

  The scammer posed as a successful businessman from New York. It didn’t take the scammer long to convince his victim to invest in cryptocurrency. She was directed to a fake cryptocurrency platform where she thought she was getting substantial returns on her investment. Except her investments were being pocketed by her supposed new beau. Before it was all over, she had invested $2.3 million.

  The victim realized there were red flags after she realized she had been scammed. The man she thought was her boyfriend would never video chat with her and would only chat through a messaging app. A reverse image search uncovered that the picture the scammer sent her was stolen from an actual New York businessman.

  To protect yourself from this type of scam, it’s important to avoid individuals who offer to help you earn money through cryptocurrency, particularly if you have not met them in person. Cryptocurrency markets can be extremely volatile, which means even legitimate investments can quickly turn into losses. Furthermore, scammers and cybercriminals often prefer cryptocurrency as a payment method.

  It’s worth noting that despite having a distinct name, this scam is ultimately a variation of a romance scam. If you develop an online relationship with someone who starts requesting money, it’s highly probable that they are a scammer. If the person has shared photos with you, consider conducting a reverse image search to see if these photos have been used elsewhere on the internet. Romance scammers frequently use other people’s photos to construct fake identities.

   
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  Geebo 8:00 am on March 30, 2023 Permalink | Reply
  Tags: cryptocurrency ( 50 ), pig butchering scam ( 14 ), retirees ( 2 ), romance scam, Scams ( 1,354 )   

  Crypto-Romance scam runs rampant among retirees 

  

  By Greg Collier

  When we think of Florida, we often think of retirees, since Florida is one of the most popular states to retire to. And since Florida has so many retirees, scammers see the Sunshine State as an easy target. Recently, Florida has seen an uptick in romance scams that involve the victim thinking they’re investing their savings into cryptocurrency. It’s called the pig butchering scam, and it has cost its Florida victims hundreds of thousands of dollars each. It’s called that because the victims are seen as pigs who the scammers ‘raise’ until it’s time to lead the victim to financial slaughter.

  The scam typically begins when the victim establishes a relationship with a potential romantic partner through a dating platform or social media. The scammer will keep the victim interested and eventually offer to help them make money by investing in cryptocurrency. The victim is then directed to a cryptocurrency exchange that is controlled by the scammers. They are instructed to invest their money into the exchange, which the scammer will claim has generated substantial returns. However, when the victim attempts to withdraw their funds, they are informed that they need to pay additional fees in order to receive their returns. This pattern of demands for more money continues until the victim either runs out of funds or realizes that they are being scammed.

  Recently, a retiree from Port St. Lucie, Florida came forward to local media after losing $250,000 to this scam. He though ht had entered into an online relationship with a woman. The scammer cultivated the relationship before asking the man if he wanted to make money through cryptocurrency. After losing the $250,000, the scammer cut off all communication with the man, now he’s in danger of losing his home.

  The best way to protect yourself from this scam is to avoid anyone offering to help you make money through cryptocurrency, especially if you’ve never met them in person. Cryptocurrency markets are so volatile that even legitimate investments can disappear quickly. Plus, cryptocurrency is a preferred method of payment for scammers and other cybercriminals.

  Even though this scam has a fancy name, at its heart it’s still a romance scam. If you develop an online relationship and your online partner starts asking for money, they’re more than likely a scammer. If the person has provided you with photos, try using reverse image search to see if the photos have been used elsewhere on the internet. Romance scammers often use photos of other people to create fake identities.

  Romance scammers often ask their victims for money or personal information, such as bank account details, credit card numbers, or social security numbers. Be suspicious of anyone who makes these requests, especially if you have not met them in person.

   
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  Geebo 9:00 am on February 20, 2023 Permalink | Reply
  Tags: cryptocurrency ( 50 ), investment scams ( 10 ), pig butchering scam ( 14 ), romance scam, Scams ( 1,354 )   

  When romance and crypto scams meet 

  

  By Greg Collier

  Money can complicate any relationship. However, it’s not complicated if a person you never met in person asks you for money. That person is more than likely a romance scammer. Typically, romance scammers will cultivate an online relationship with their victim for months before asking the victim for money. Scammers will claim they have plenty of their own money, but it’s tied up for some reason or another. There is also a variation to this scam where the scammer doesn’t ask for money. Instead, they offer to help their victim.

  This scam has the unfortunate name of the ‘pig butchering’ scam. The scam is named this way because the victims are seen as the pigs that the scammers ‘raise’ before leading them to the financial slaughterhouse.

  It starts when the victim meets a potential romantic partner on a dating platform or social media. The scammer will string the victim along until the scammer tells their victim they can help the victim make money by investing in cryptocurrency. The victim is then directed to a cryptocurrency exchange run by the scammers. The victim will pay the exchange for their investment before being told their investment has had a substantial return. When the victim tries to get their money out, they’re told by the exchange they need to pay more money to get their returns. This will continue until the victim runs out of money or realizes they’re being scammed.

  This happened recently to a woman from San Antonio, Texas, who met one of these scammers on the dating platform Bumble. The scammer claimed to have grown up in Switzerland before coming to the US. The scammer quickly moved the conversation off of Bumble and on to WhatsApp. There, the scammer said he could show her how to invest in cryptocurrency with the New York Stock Exchange. She paid $6500 to what she thought was the NYSE. She was told that her money was garnering returns. The scammer must have thought that $6500 wasn’t enough because the victim said the scammer started becoming aggressive and threatening. The victim then found out that the exchange had no affiliation with the NYSE.

  While $6500 may be a fortune to many people, the victim is actually lucky. There have been instances where at least one victim has lost almost $2 million to the pig butchering scam.

  The pig butchering scam isn’t limited to dating apps. If someone messages you with promises of record windfall by investing in cryptocurrency, they’re more than likely a scammer. No financial investment is ever guaranteed to make the investor a profit.

   
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  Geebo 9:00 am on February 16, 2023 Permalink | Reply
  Tags: catfishing ( 4 ), Facetime ( 3 ), romance scam, Scams ( 1,354 )   

  Romance scammers are FaceTime frauds 

  

  By Greg Collier

  A lot has been made about romance scammers in the news this week because of Valentine’s Day. While it’s always a good thing when the media shares information about this scam, it’s a scam that people should watch out for all year round. While the scam largely targets the elderly, anyone can fall victim to the scam regardless of age or gender. To complicate matters, romance scammers can use technological tricks to get around some of the red flags.

  For example, a widow from California recently lost $120,000 to a romance scam. The victim had met the scammer on Date, a dating platform primarily used by Jewish singles. The scammer claimed to be an international businessman from Germany living in Texas. That should have been a red flag, as romance scammers almost always pose as someone who is often out of the country. Other popular positions that romance scammers claim to have are being stationed overseas in the military or oil rig workers. This gives the scammers plausible deniability when it comes to meeting in person.

  That leads us to our next red flag, as the scammer in this instance also kept making excuses as to why the pair couldn’t meet in person. Then the requests for money started, which should be the biggest red flag indicating a romance scam. However, this particular scammer used a gimmick that probably made all the red flags go away.

  According to the victim, she would talk to who she thought was her romantic partner over the video chat app FaceTime. Typically, on FaceTime scam calls, the scammer will only show a picture and will claim that there’s something wrong with their camera or device. However, it’s not unheard of there being convincing filters that can imitate other people while FaceTiming. An untrained eye may not be able to spot such a ruse, but you can see how that might convince someone that their online relationship is real.

  When it comes to romance scams, no red flag should ever be ignored. If you’re using a dating site and someone asks to move off the platform to communicate, that could be a red flag. Always do a reverse image search, as scammers will often use pictures that are stolen from online platforms. And most importantly, never send money, no matter how big or small the amount.

   
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  Geebo 9:00 am on February 2, 2023 Permalink | Reply
  Tags: dating ( 4 ), online dating ( 7 ), romance scam, Scams ( 1,354 ), valentine's day ( 4 )   

  Elderly victim loses almost $100K to romance scam 

  

  By Greg Collier

  With Valentine’s Day approaching, romance scams are on the rise. For new readers, romance scams typically consist of scammers luring their targets into false romantic relationships as a way to steal money. The scammers usually pose as oil rig workers, military members stationed overseas, or international business people. This is done in order to have a built-in excuse as to why the scammer can’t meet their victim face to face. While anybody can fall for a romance scam, elderly women are frequently the targets for this scam. While Valentine’s Day can be a potential flashpoint for romance scams, they can happen at any time.

  For example, an elderly woman from Indianapolis is said to have lost $98,000 to a romance scammer. The victim was using a dating website after losing her husband a few years ago. She met someone on the site who claimed to be 20 years her junior. When asked if the age gap would be a problem, the scammer replied with, “age is just a number.”

  The scammer then convinced the victim to move their conversations away from the dating site and use text messaging instead. The scammer claimed to own a construction company in Montreal, Canada, and asked for money to help support his business. The victim sent five payments that totaled a little over $98,000.

  The supposed construction company owner even sent the victim a picture of a plane ticket that showed an intent to visit the victim. Of course, no one ever showed. Even then, the scammer continued to ask the victim for money, including a $500,000 request to invest in his construction business. When the victim stated they had no more money, the scammer cut off contact with the victim.

  If you ever meet a potential romantic partner online, the first thing you should do is a reverse image search on their picture. Scammers will often steal pictures from someone’s social media who has no idea their picture is being used in a romance scam. If your prospective partner is being cagey about meeting in person, that is usually a good indicator that they’re trying to scam you. Also, if you’re using a dating app or platform, and you’re asked to move the conversation off the platform, that could be a good indication of a scam. Lastly, if they ask for money before meeting, that’s a huge red flag indicating a scam.

  If you know someone who may be a victim in a romance scam, it’s often difficult to convince them that they’re being scammed. It may help if you show them this blog post or any of the articles out there that detail how a romance scam works.

   
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  Geebo 9:00 am on December 21, 2022 Permalink | Reply
  Tags: doctor ( 4 ), Facebook ( 178 ), impersonation scam ( 144 ), romance scam, Scams ( 1,354 )   

  Romance scammers steal life savings of elderly victim 

  

  By Greg Collier

  The holiday season is the time of the year when romance scammers strike the hardest. After all, most people to be alone for the holidays. That loneliness can make anyone vulnerable to the promises of a romance scammer. Romance scammers often pose as well-off individuals, such as doctors or international businessmen. The stability of some of these positions make them more attractive to their victims. It also doesn’t help that when someone is lonely, the heart can often overrule the mind, and red flags are often ignored.

  That happened to an elderly Pennsylvania woman who lost almost $40,000 to scammers. Her scammer claimed to be a doctor who was working in Iraq for the United Nations. It was because the scammer was said to be in Iraq that it made it easy for them to avoid meeting the victim. It also made it easy for the scammer to make excuses as to why they couldn’t talk on FaceTime or why the ‘doctor’ was unable to carry any money on him.

  For months, the scammer cultivated an online relationship with their victim. At first, they would talk every day through online chats. Then the chats became phone calls where they would talk every day. The scammer was said to have talked like someone who was in love, even saying things to the victim like ‘How was your day?’. Things that many of us might take for granted when we’re in relationships.

  Then it finally became time for the scammer to pull the trigger on the scam. At first, the money requests started small. The first one was for a $100 pre-paid debit card that the victim took a photo of and sent to the scammer. Then came larger amounts for things like cell phone service, food, and a plane ticket for the ‘doctor’ to meet the victim. However, instead of the meeting taking place, the victim received a phone call from someone claiming to be the doctor’s lawyer.

  That person said that the doctor had been arrested because of the drugs in his bag, and he needed $20,000 bail. By this time, the victim had already gone through her savings, but the supposed lawyer pressured her into finding more money. She was told to sell her car, cash out life insurance policies, and beg from her family if need be. It was then the victim realized she had been scammed.

  The photos the scammer used turned out to be of an actual doctor from Spain, whose picture was being used in all manner of romance scams.

  The victim had lost everything to the scam, but was fortunate enough to have family her took her in. She believes she was taken advantage of because she had listed herself as a widow on her Facebook page.

  The romance scam probably comes with the most victim blaming, as many people say they can’t believe someone would fall for such a scam. That’s when we like to remind people that anybody can fall victim to a scam, no matter their education level or socioeconomic status. Recently, a Texas man pleaded guilty to being part of a romance scam that took $1.2 million from just one victim. You don’t accrue that kind of money without being a little smart.

  The best way to protect yourself from romance scammers is to do a reverse image search of any picture they send you of themselves. If the results come back to someone who isn’t who they say they are, then your best bet is to cut off any communication with them. It goes doubly so if they start asking you for money if you haven’t even met yet.

  If you know someone, especially an elderly person, who might be caught in a romance scam, please show them this blog post or the Romance Scam page from the FTC’s website.

   
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  Geebo 9:00 am on December 9, 2022 Permalink | Reply
  Tags: celebrity scam ( 2 ), impersonation scam ( 144 ), Instagram ( 17 ), romance scam, Scams ( 1,354 ), wrestling, WWE ( 2 )   

  Wrestling with the romance scam 

  

  By Greg Collier

  When we discuss the romance scam, we generally tell our readers that there are certain occupations the scammers claim to be a part of. Typically, the scammers claim to be in the military, overseas business moguls, or oil rig workers. This gives them built-in excuses for why they can never meet their supposed romantic partners face to face. It also gives the scammers built-in reasons to keep asking their victims for money. But recently, we’ve heard of a romance scam using an occupation we haven’t heard about being used in the scam before.

  In a suburb of Detroit, a 75-year-old man lost $80,000 to a romance scammer. The man met the scammer on Instagram, who was posing as a woman. The scammer sent a direct message to the man saying that she was having problems with her bank account. She asked the man for money to help her get to her job, which required traveling.

  This relationship lasted for 6 months. The victim had sent the scammer cash and pre-paid gift cards. In return, the scammer said she was eventually going to move to Michigan to be with the man and marry him.

  When the man’s own money ran out, he had borrowed $5000 from friends.

  It wasn’t detailed how the man discovered he was being scammed.

  The hook in this story is that the scammer was posing as a women’s professional wrestler who worked for the WWE. Again, if it wasn’t for the fact that a man lost $80,000, we’d almost give credit to the scammer for picking such a unique profession to use in a scam. Pro wrestlers are constantly on the road, with some working 300 dates a year. This gives the scammer another excuse as to why they can’t meet in person.

  Unfortunately, pro wrestlers are no strangers to being used as part of a scam. Scammers often imitate some of the top names in the industry to try to scam wrestling fans. And sometimes these scams can have dangerous results for the wrestlers involved.

  Last year, a fan jumped the barricade at a WWE show in New York, and attacked WWE Superstar Seth Rollins. The fan had been scammed by a social media account that was imitating Rollins online. Thankfully, neither Rollins nor the fan were injured.

  This story also speaks to another problem of the romance scam, and that’s the celebrity impersonator. No matter how minor the celebrity may be, they’re never going to reach out to individual fans for romantic reasons or otherwise.

  And as far as romance scams go, if the person you’re having an online relationship keeps putting off a face-to-face meeting, there’s a great possibility they’re a scammer. No matter how charming they might be, never send money to someone you don’t know personally that you’ve never met in real life. Lastly, always do a reverse image search on their picture to make sure they haven’t stolen the picture from someone else.

   
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  Geebo 8:00 am on October 6, 2022 Permalink | Reply
  Tags: catfishing ( 4 ), check scam ( 79 ), fake check ( 47 ), romance scam, Scams ( 1,354 )   

  Romance scammer defrauds victim of $82,000 

  

  By Greg Collier

  Romance scammers are some of the cruelest scammers out there. They take advantage of someone’s loneliness while stringing them along for weeks or months before leaving them with an empty bank account or worse.

  This is what happened to a woman from the Chicago area after meeting a man online. The 37-year-old woman met her scammer on the dating app Hinge. The scammer claimed to be an architectural engineer from Greece, who was currently working in America. The scammer also claimed that he had a five-year-old daughter who was living with his sister in Utah.

  The conversations moved off the Hinge platform and on to various other methods, including phone calls. The scammer acted like a man in love, while the victim thought she was in an authentic relationship.

  Six weeks into the phony relationship, the scammer started sowing the seeds of their master plan. He claimed he needed to get $500 to his sister to help pay for his daughter’s care. The victim sent the $500 to the sister through PayPal. To lull the victim into a false sense of security, the scammer actually paid back $500 to the victim. As we’ll see, $500 was a small price for the scammer to pay to get their ultimate payoff.

  The scammer sent the victim a check for $85,000. He claimed the money needed to go to his daughter, but he couldn’t get to his own bank. He asked her to deposit the check in her account before wiring $82,000 to the supposed man’s sister. The scammer even advised her to deposit the check through an ATM, probably so it wouldn’t draw any attention from bank employee’s. The check turned out to be fraudulent, leaving the victim with a negative balance of $82,000.

  When the victim messaged the scammer about the check, the scammer went dark. However, she did receive a Facebook message claiming to be from the FBI telling her that she had been scammed. This message was more than likely from the scammer as well.

  Anybody who asks you to deposit a check into your account to pay someone else is almost assuredly trying to scam you. Banks do not wait for the check to clear before making the funds available. There is a several day window where the scammers can strike. If the money is taken out of the victim’s bank account before the check clears, then the victim will be responsible for paying that money back to the bank.

  Dating apps typically do not do any kind of background check on their users. If you meet someone online, the first thing you should do is a reverse image search to make sure they’re not using pictures stolen from elsewhere on the internet.

  Lastly, if the person you meet claims to have a job that makes it difficult to meet in person, this is a good indicator of a potential scam. These jobs can include a military member stationed overseas, oil rig workers, and international business workers.

   
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  Geebo 8:00 am on September 27, 2022 Permalink | Reply
  Tags: bitcoin ( 31 ), Cash App ( 42 ), cryptocurrency ( 50 ), investment scams ( 10 ), romance scam, Scams ( 1,354 )   

  Loneliness leads to crypto scam 

  

  By Greg Collier

  Loneliness is one of the greatest vulnerabilities someone can have. It can cause us to make rash decisions or ignore warning signs if we think it will help us be any less alone. Some of the more detrimental decisions people can make are made during bouts of extreme loneliness. Unfortunately, scammers are aware of this too. Lonely people, especially senior citizens who may have lost a partner, are a favorite target of scammers. This is especially true of romance scammers.

  Traditionally, romance scammers find a target online and foster a phony relationship with them. Once the scammer gains the target’s trust, the scammer will start asking for money for some emergency. Romance scammers often pose as military members serving overseas, oil rig workers who are constantly working offshore, or international business people. They use these occupations as excuses as to why they can never meet in public.

  However, there is a new type of romance scam that works a lot quicker than the typical one, as one man from Indiana recently found out. The man is a senior citizen who is on a fixed income. He met a woman going by the name of Elizabeth on a dating site. It wasn’t long before Elizabeth mentioned she worked for an investment company and could make the man some money. The man was told that if he gave her $500 in Bitcoin, he’d make a profit in 5 days. He sent ‘Elizabeth’ the $500 in Bitcoin.

  When it came time for the man to claim his profits, he contacted the supposed investment company. He was told that his initial investment had multiplied more than ten times its amount. When the man tried to cash out, he was told he would need to send an additional $2000 through Cash App to claim his windfall. The man refused and was then asked for his bank account information. It was at this point the man realized he had been scammed. This man probably got off easy, relatively speaking. While we’re sure $500 was a lot of money to this man, other victims to this scam have paid the additional fees the scammers have asked for and never see a penny of it in return.

  No investment is ever guaranteed to return a profit, and especially not cryptocurrency, as that market can wildly fluctuate. If someone you don’t know or barely know promises to invest in cryptocurrency for you, there’s a good chance that they’re trying to scam you. Also, no legitimate investment company will ask you to make any payment through apps like Cash App.

  If you’re lonely and looking for companionship online, please be very careful as there are any number of pitfalls out there that could leave you with a broken heart and an empty wallet.