Pig Butchering Scam

WEBVTT
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And welcome to Technology Tap.
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I'm Professor J.
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Rod.
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In this episode, the big butchering scam, how ordinary people lose everything.
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Let's tap in the street.
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I'm your host, Professor J.
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Rod.
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As always, thank you for spending part of your day with me.
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Whenever you're listening while driving to work, taking a walk, exercising, or relaxing at home, I appreciate you being here.
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Today we're doing something a little different.
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Normally on this show, we'll cover several scams, cybersecurity topics, or technology trends in a single episode.
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And we also do some Camtia questions, right?
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But today we're dedicating the entire episode to just one scam.
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Why?
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Because this scam has become one of the most devastating financial crimes in the world.
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It has stolen billions of dollars, it has destroyed retirement, it has forced families to refinance homes, it has emptied college savings accounts, it has ruined lives.
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And the frightening part is that most people never heard of it.
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It's called the pig butchering scam.
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Now I know that name sounds strange.
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Maybe you never heard of it before.
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Maybe you're wondering what kind of scam has a name like that?
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We'll explain it where that name comes from in just a little bit.
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But I want to warn you out there, it's not a pleasant term.
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It comes from the criminals themselves.
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They compare their victims to livestock, someone they fatten up over weeks or months before taking everything they can.
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It's a cruel name because it's a cruel crime.
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And unfortunately, it's becoming common every day.
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One of the biggest misconceptions about scam is that they only happen to people who aren't familiar with technology.
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Nothing could be further from the truth.
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Some of the victims of this scam have included doctors, lawyers, college professors, military veterans, business owners, software engineers, financial professionals, people with master's degrees, people with doctorates, even cybersecurity professionals.
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Think about that for a moment.
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People who spend their careers understanding technology still have become victims.
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Why?
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Because this isn't really a technology scam.
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It's a psychology scam.
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The criminals don't hack your computer first, they hack your emotions.
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They don't exploit software vulnerabilities, they exploit human vulnerabilities.
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Loneliness, curiosity, hope, trust, greed, fear, excitement, love.
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Those emotions exist in every single one of us.
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That's why no one should ever say this could never happen to me.
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Whenever I hear someone say that, I actually become a little concerned because confidence without awareness can be dangerous.
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The people who believe they're impossible to fool sometimes let their guard down.
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The people who understand that anybody can be manipulated tends to stay cautious.
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That's the goal of today's episode.
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Not to make you paranoid, not to make you afraid, but to make you aware.
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Knowledge is one of the best forms of protections that we have.
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You know, years ago, scams were relatively simple, right?
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Someone might call you pretending to be from the IRS.
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You receive an email claiming you won the lottery.
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Maybe you get a fake inheritance letter from another country.
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Those scams still exist, but today's scammers have become more sophisticated.
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They're patient, they're organized, they're well funded.
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Many operate as part of an international criminal organization.
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Some even work out of buildings that look like normal office complexes.
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Employees sit at computers all day long.
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They have managers, performance scopes, scripts, training manuals.
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Some organizations even operate 24 hours a day with different shifts.
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This isn't someone sitting in a basement trying random phone numbers.
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This is an industry, an industry worth billions of dollars.
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And like every successful business, they constantly improve.
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They study psychology, they learn what works, they test different messages, they analyze victim behavior, they refine their techniques.
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They're always adapting.
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Meanwhile, most of us are still using advice that worked 10 years ago.
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Don't answer calls from strangers, don't click suspicious emails, don't give out your social security number.
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Those are excellent rules, but today's scammers go much deeper.
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Today's criminals don't just steal information, they build relationships.
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Imagine receiving a simple text message.
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Hi Sarah, are we still having dinner tonight?
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You replied, I think you got the wrong number.
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Instead of ending the conversation, the stranger says, Oh my goodness, I'm so sorry.
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I hope I didn't bother you.
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Seems harmless, maybe even polite.
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A few more messages follow, you chat for a few minutes, the conversation ends.
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Nothing suspicious.
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A week later, they message you again, asking you how your day's going.
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Over time, they become a familiar name on your phone.
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Weeks turn into months.
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You begin talking every day, you learn about their life, they learn about yours.
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Eventually, they tell you they're making excellent returns investing.
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They never pressure you, they simply share their success.
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Naturally, you're curious.
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One day you ask, How are you making so much money?
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The question, that question changes everything.
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Because from that moment forward, the real scam begins.
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And by the time you realize what's happening, it may already be too late.
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Throughout today's episode, we're going to dissect every stage of this scam.
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We'll explain exactly how it works, how criminals build trust, how fake investment websites convince victims that they're making money, how victims often send more money after they've already been scammed, and why intelligent people continue investing even when friends warn them to stop.
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We'll also discuss the emotional impact because losing money isn't the only damage.
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Many victims experience embarrassment, depression, broken relationships, anxiety.
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Some never report what happened because they are ashamed.
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But there's nothing shameful about being manipulated by professionals whose entire job is psychological deception.
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The shame belongs to the criminals, not the victims.
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My goal today is simple.
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When somebody finishes listening to this episode, I want them to recognize this scam before it starts.
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I want them to hear a wrong number text and think twice.
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I want them to question promises of guaranteed investment returns.
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I want families to have conversations with parents, grandparents, spouses, and friends.
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Because one conversation today can prevent a financial disaster tomorrow.
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If this episode even helps one person avoid losing their retirement savings, the emergency fund, or their home, then every minute we spend together will have been worthwhile.
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So settle in, grab your coffee, and let's begin uncovering one of the most dangerous scams operating in the world.
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This is Technology Tap.
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Alright, so what exactly is pig butchering scam?
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The first time I heard the name, I honestly thought it referred to livestock or farming.
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It sounded like something completely unrelated to cybersecurity.
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Unfortunately, the reality is much darker.
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The term pig butchering comes from the criminals themselves.
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Imagine a farmer raising a pig.
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The pig isn't slaughtered immediately, instead, it's fed over time.
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It's cared for, it's allowed to grow larger and larger before the farmer ultimately profits from it.
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Scammers borrow that concept.
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To them, the victim is a pig, or is the pig.
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The scammer spends weeks or even months fattening up the victim emotionally and financially before taking as much money as possible.
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It's disturbing, but understanding it helps explain why this scam is different from almost every other financial fraud.
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Most scams happen quickly.
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A fake email arrives, somebody clicks a link, money disappears.
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The pig butchering scam is the opposite.
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It is slow, it is patient, it is methodical.
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The criminals understand that psychologists have known for decades.
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People are far more likely to trust someone they know than someone they just met.
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So instead of asking for money on day one, the scammer builds by building trust.
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So let's compare two scams.
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The traditional scam, a scammer calls per pretending to be from your bank, they tell you your account has been compromised, they ask for a password.
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Most people recognize something feels wrong.
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Conversation over.
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Scam failed.
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Now, compared with the pig butchering scam, a stranger accidentally texts you, you have a pleasant conversation.
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The next day they ask how you're doing.
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A week later they tell you about their job, they send pictures of their dog, ask about hobbies, months pass.
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There's never been a request for money.
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In fact, they never mentioned investing.
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But by now, you're no longer talking to a stranger.
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You're talking to someone you believe you know.
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And that's exactly what the scammer wants.
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Let's think about our own lives.
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How do friendship usually begin?
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Often through small interactions.
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A coworker says hello every morning, a neighbor waves while walking their dog, another parent talks with you at a school event.
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Nobody immediately asks for favors.
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Relationships develop naturally.
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That's exactly what these criminals imitate.
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They study human behavior.
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They know people trust consistently.
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If someone is polite every day for three months, our brain naturally begins lowering our defenses.
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It's how humans are wired.
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Trust helps society function.
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Without trust, we'll never build friendships, work together, or fall in love.
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Scammers weaponize one of humanity's greatest strength.
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Here's something important to understand: the computer isn't the target.
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The phone isn't the target.
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The cryptocurrency wallet isn't the target.
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You are your emotions, your confidence, your dreams, your fears.
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Technology is simply the delivery system.
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Imagine if tomorrow every cryptocurrency disappeared.
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Will these scammers stop?
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No.
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They simply move on to another investment because they're not selling cryptocurrency, they're selling hope.
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Every pig butchering scam revolves around one powerful promise.
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This is an opportunity that most people don't know about.
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Maybe it's cryptocurrency, maybe it's foreign exchange, maybe it's gold, maybe it's artificial intelligence, maybe it's private investing.
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The investment changes.
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The psychology never does.
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The victim begins believing they discover something exclusive.
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Human beings love feeling like insiders.
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We like believing we know something others don't.
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Scammers understand this perfectly.
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One of the fascinating parts of these scams is how casually investing enters the conversation.
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Imagine you've been chatting with someone for six weeks.
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They never mentioned money.
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Then one day they said, Hey, I had another really good day trading.
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That's all.
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No sales pitch, no pressure, no imitation.
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They simply plant an idea.
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A few days later, they mention they're taking a vacation.
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Another day they show a new car.
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Eventually, curiosity takes over.
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You ask, How can you afford all this?
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You notice something?
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You asked, the scammer didn't.
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Psychologically, that matters.
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Because now the investment feels like your idea.
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The criminal didn't convince you.
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You convinced yourself.
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And that's incredibly powerful manipulation.
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The scammers begin showing screenshots, trading profits, luxury restaurants, hotel suites, vacation photos, expensive watches.
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Everything appears authentic.
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Some of it might even be real.
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Many criminal organizations spend money creating believable lifestyles because it's profitable in the long run.
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Think about legitimate business.
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Companies spend millions on advertising.
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Scammers do the same thing.
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Their advertisements just happen to be fake lives.
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People often ask, how can someone not realize what was happening?
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That's the wrong question.
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The better question is, what information did the victim actually have?
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Let's imagine you're the victim.
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For two months you talked every day.
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Nothing bad has happened.
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This person has never asked you for money, they never threaten you.
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They remember your birthday, they ask about your family, they celebrate your accomplishments.
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Everything appears genuine.
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If somebody suddenly told you that person is trying to steal your retirement, will you believe them?
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Probably not.
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Because your personal experience says otherwise.
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This is why these scams are so dangerous.
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The victim isn't ignoring warning signs.
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Many warning signs simply haven't appeared yet.
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Here's another fact most people don't realize.
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Many pig butchering operations are run by organized crime groups.
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We're not talking about one person sitting behind a laptop.
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Some operations involve customer service representatives, managers, technology teams, script writers, psychologists, money laundry specialists, recruiters, translation teams, fake investment platform developers.
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It's astounding how sophisticated some of these organizations have become.
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Imagine walking to an office building, employees sit at rolls of computers, everybody has assignments.
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Some workers spend all day sending first messages.
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Others maintain relationships, others manage fake trading platforms, others handle the money.
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It's all a criminal business and unfortunately is very profitable.
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One question I hear often is if they want my money, why don't they ask immediately?
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Because patience increase profits.
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Imagine you're trying to borrow 20 bucks from somebody.
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Would you ask a complete stranger?
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Probably not.
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Would you ask a close friend?
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Much easier.
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Trust has value.
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Criminals understand that trust can be converted into money, sometimes an enormous amount of money.
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Victims have lost tens of thousands of dollars,$100,000,$500,000, entire retirements, homes, life savings.
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Not because they made one bad decision, because dozens of small decisions gradually built towards one catastrophic outcome.
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You'll be surprised how something as simple as a wrong number text message has become one of the most successful entry points into a billion-dollar fraud operations.
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You might think criminals spend hours researching wealthy people, hacking databases, or searching for individuals with large bank accounts.
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Sometimes they do, but surprisingly, most of the time they don't.
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Many victims are found through something incredibly simple: a text message, a social media message, a dating app, or even what appears to be a complete accident.
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Let's start with one of those common entry points, the wrong number text.
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Imagine sitting on your couch after dinner, your phone buses, the message says, Hi David, are we still meeting at the airport tomorrow?
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You look at it, you think, wrong person, so you politely reply, sorry, I think you have the wrong number.
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That seems harmless.
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In fact, most people would consider that polite thing to do.
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A few seconds later, the stranger responses, Oh my god, I'm embarrassed.
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I'm so embarrassed.
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Thank you for letting me know.
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Again, nothing suspicious.
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They apologize, they're friendly, they're polite.
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Then they say something like this Since I interrupted your evening, I hope you're having a wonderful day.
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Most people don't think twice.
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Some never respond.
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Others simply say, No problem.
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That's all the scammer wanted.
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They confirmed something important.
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A real person answered.
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You might wonder, why not simply advertise fake investments?
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Why bother pretending to text the wrong person?
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Because this approach accomplished several psychological goals.
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First, it lowers your defenses.
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You don't feel targeted.
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You don't think someone is trying to sell you anything.
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Instead, you believe you're helping someone who made an innocent mistake.
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Second, it starts the conversation.
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Think about real friendships.
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Most people, most friendships don't begin with, hello, I like to invest your retirement savings.
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They begin with small talk.
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Scammers understand this.
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Here's another misconception.
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Many people imagine the scammer carefully selecting one victim.
00:16:49.919 --> 00:16:51.759
The reality is much different.
00:16:51.919 --> 00:16:56.559
Imagine sending someone sending the same message to 10,000 phones.
00:16:56.799 --> 00:16:58.559
Maybe only 300 respond.
00:16:58.720 --> 00:17:01.440
Of those 300, perhaps 50 continue talking.
00:17:01.600 --> 00:17:05.119
Out of those 50, maybe five eventually become victims.
00:17:05.279 --> 00:17:08.559
The scammer doesn't need everyone, they only need a few.
00:17:08.799 --> 00:17:10.480
That's why these scams are scalable.
00:17:10.640 --> 00:17:15.200
Technology allows criminals to send thousands of messages in minutes.
00:17:15.440 --> 00:17:17.920
Now let's move to another common hunting ground.
00:17:18.240 --> 00:17:19.200
Dating apps.
00:17:19.440 --> 00:17:21.440
Think about why people join dating apps.
00:17:21.599 --> 00:17:27.039
They are looking for companionship, conversation, friendship, relationship, sometimes love.
00:17:27.359 --> 00:17:28.799
Scammers know this.
00:17:29.039 --> 00:17:38.240
They create attractive profiles, professional photographers, interesting biographies, successful careers, luxury vacations, perfect smile, everything looks authentic.
00:17:38.480 --> 00:17:41.920
Sometimes the photo belongs to real people whose identity are stolen.
00:17:42.000 --> 00:17:44.799
Sometimes they're generated entirely by artificial intelligence.
00:17:45.039 --> 00:17:46.559
Victim has no idea.
00:17:46.880 --> 00:17:49.119
The scammer's profile is carefully designed.
00:17:49.200 --> 00:17:58.240
Maybe they're an entrepreneur, a successful inventor, a fashion designer, a doctor, someone who appears educated, successful, stable, trustworthy.
00:17:58.480 --> 00:17:59.119
Why?
00:17:59.440 --> 00:18:02.799
Because people naturally trust those who appear accomplished.
00:18:02.880 --> 00:18:09.759
If someone presents themselves as financially successful, they're more likely to be believed later when they're discussing investing.
00:18:10.000 --> 00:18:13.440
The deception starts long before money enters the conversation.
00:18:13.839 --> 00:18:17.920
Now let's talk about Facebook, Instagram, LinkedIn, TikTok.
00:18:18.160 --> 00:18:21.119
Every social platform contains valuable information.
00:18:21.359 --> 00:18:29.920
Without realizing it, people often reveal where they work, where they vacation, their favorite restaurants, family members, birthdays, pets, hobbies, etc.
00:18:30.400 --> 00:18:34.720
Even when they're away from home, to most people, these are homeless posts.
00:18:34.880 --> 00:18:37.359
To scammers, they're intelligence reports.
00:18:37.680 --> 00:18:41.920
Imagine you posted, finally retire after 35 wonderful years.
00:18:42.160 --> 00:18:45.279
Your friends congratulate you, scammers see something different.
00:18:45.359 --> 00:18:54.880
They think retired, likely has retirement savings, probably has a book a pension, possibly owns a home, may have investment accounts.
00:18:55.200 --> 00:18:59.440
One innocent social media post can tell criminals far more than you intended.
00:18:59.680 --> 00:19:02.720
Many people assume professional network platforms are safer.
00:19:03.119 --> 00:19:05.599
Unfortunately, scammers have adopted.
00:19:05.759 --> 00:19:11.519
Someone sends you a connection request, they appear to work in tech, healthcare, education, you accept.
00:19:11.759 --> 00:19:14.240
Moments later, they begin discussing investing.
00:19:14.400 --> 00:19:16.880
Again, there's no pressure, just conversation.
00:19:17.119 --> 00:19:20.480
They casually mention how well their investments have been performing.
00:19:20.799 --> 00:19:22.480
The trap has been sent.
00:19:23.599 --> 00:19:27.440
Eventually, scammers try moving conversations away from public platforms.
00:19:27.680 --> 00:19:37.119
They might say, I don't check Facebook very often, or let's talk on WhatsApp, maybe Telegram, Signal, or other messaging app.
00:19:37.359 --> 00:19:37.839
Why?
00:19:38.000 --> 00:19:40.559
Because these platforms provide greater privacy.
00:19:40.720 --> 00:19:42.720
Some offer encrypted conversations.
00:19:42.880 --> 00:19:46.720
Others make it harder for social media companies to detect suspicious activity.
00:19:46.880 --> 00:19:50.799
Once the victim moves, the scam becomes much easier to manage.
00:19:52.400 --> 00:19:54.000
Here's something interesting.
00:19:54.160 --> 00:20:00.720
Many victims later tell investigators, I knew something felt strange, but they kept talking.
00:20:00.880 --> 00:20:01.440
Why?
00:20:01.680 --> 00:20:03.279
Because nothing bad has happened.
00:20:03.440 --> 00:20:04.960
Imagine meeting a friendly neighbor.
00:20:05.119 --> 00:20:07.279
Would you immediately assume they're trying to steal your savings?
00:20:07.440 --> 00:20:08.480
Of course not.
00:20:08.960 --> 00:20:12.160
Trust the labs through repeated positive interactions.
00:20:12.240 --> 00:20:15.279
That's exactly what scammers manufacture.
00:20:15.599 --> 00:20:19.359
One of the most effective techniques scammers use is consistency.
00:20:19.519 --> 00:20:20.640
Every morning, good morning.
00:20:20.880 --> 00:20:23.039
Every evening, hope you had a great day.
00:20:23.599 --> 00:20:25.519
Every weekend, any fun plans.
00:20:25.680 --> 00:20:27.920
These conversations may continue for months.
00:20:28.079 --> 00:20:31.119
Eventually, the scammer becomes part of the victim's daily routine.
00:20:31.200 --> 00:20:33.519
Psychologists call this familiarity.
00:20:33.759 --> 00:20:38.799
The more frequency we interact with someone, the more comfortable we become.
00:20:39.119 --> 00:20:41.759
Comfort eventually becomes trust.
00:20:42.000 --> 00:20:44.400
Trust eventually becomes influence.
00:20:45.440 --> 00:20:50.160
Artificial intelligence has made these scams even more convincing.
00:20:50.480 --> 00:20:53.759
AI cannot help criminals write better messages.
00:20:54.160 --> 00:20:56.319
Translate into dozens of language.
00:20:56.799 --> 00:20:59.839
Create realistic profile photos.
00:21:00.160 --> 00:21:02.319
Generate believable conversations.
00:21:02.640 --> 00:21:04.880
Correct grammar instantly.
00:21:05.200 --> 00:21:09.279
Years ago, poor spelling and awkward English often expose cameras.
00:21:09.440 --> 00:21:11.440
Today those clues are disappearing.
00:21:11.599 --> 00:21:15.119
A message generated by AI can sound remarkably natural.
00:21:15.279 --> 00:21:19.200
That's why focusing only on grammar or spelling is no longer enough.
00:21:19.440 --> 00:21:21.599
Instead, pay attention to behavior.
00:21:21.759 --> 00:21:24.480
Are they trying to build a relationship unusually quickly?
00:21:24.720 --> 00:21:26.400
Do they involve meeting in person?
00:21:26.559 --> 00:21:30.240
Do they eventually steer every conversation toward money or investing?
00:21:30.480 --> 00:21:34.400
Those behavior patterns are often more revealing than the words themselves.
00:21:34.960 --> 00:21:36.000
What should you do?
00:21:36.160 --> 00:21:38.799
If you receive a message from someone you don't know, pause.
00:21:38.960 --> 00:21:41.519
Ask yourself Did I expect this message?
00:21:41.680 --> 00:21:43.680
Can I verify who this person is?
00:21:44.079 --> 00:21:49.279
Why are they counting the why are they continuing the conversation after realizing they contacted the wrong number?
00:21:49.599 --> 00:21:52.480
Most legitimate people apologize and move on.
00:21:52.720 --> 00:21:56.799
Professional scammers see every response as an opportunity.
00:21:57.119 --> 00:21:59.359
Or do what I do just say.
00:22:00.240 --> 00:22:04.880
Hey, hey scammer, and then they they pretty much stop.
00:22:06.640 --> 00:22:09.440
All right, a scam that doesn't feel like a scam.
00:22:09.519 --> 00:22:10.880
Let's imagine something together.
00:22:10.960 --> 00:22:13.440
It's been three weeks since that wrong number text.
00:22:14.000 --> 00:22:16.000
You exchange messages almost every day.
00:22:16.160 --> 00:22:17.599
Nothing unusual has happened.
00:22:17.680 --> 00:22:19.119
No one has asked you for money.
00:22:19.279 --> 00:22:22.000
No one has asked you for your social security number.
00:22:22.240 --> 00:22:25.039
In fact, these conversations have been enjoyable.
00:22:25.119 --> 00:22:32.079
You talked about favorite restaurants, movies, travel, pets, family, sports, work, maybe even your favorite coffee.
00:22:32.240 --> 00:22:35.680
From your perspective, you're simply getting to know another person.
00:22:35.839 --> 00:22:37.279
The scam hasn't started.
00:22:37.440 --> 00:22:38.960
At least that's what you behave.
00:22:39.759 --> 00:22:41.279
What you believe.
00:22:41.599 --> 00:22:46.480
One of the biggest mistakes people make is believing trust is built through one dramatic event.
00:22:46.640 --> 00:22:47.039
It isn't.
00:22:47.200 --> 00:22:50.000
Trust grows through hundreds of tiny interactions.
00:22:50.240 --> 00:22:51.680
Think about your closest friends.
00:22:51.759 --> 00:22:54.079
Can you remember the exact moment you trusted them?
00:22:54.319 --> 00:22:54.960
Probably not.
00:22:55.119 --> 00:22:56.160
It happened gradually.
00:22:56.319 --> 00:23:01.759
A conversation here, a favor there, a birthday remembered, a difficult moment shared.
00:23:02.000 --> 00:23:03.599
The relationship grew naturally.
00:23:03.759 --> 00:23:08.160
Scammers recreate that exact process, only is carefully planned.
00:23:08.480 --> 00:23:11.759
Here's something many victims report after the scam is over.
00:23:11.920 --> 00:23:14.960
They say talking to them became part of my day.
00:23:15.200 --> 00:23:15.839
Think about it.
00:23:16.000 --> 00:23:17.359
Every morning you receive a message.
00:23:17.519 --> 00:23:18.000
Good morning.
00:23:18.160 --> 00:23:19.279
Hope you have an amazing day.
00:23:19.440 --> 00:23:21.119
During lunch, how's work going?
00:23:21.359 --> 00:23:23.599
During the evening, did you have dinner yet?
00:23:24.240 --> 00:23:26.480
And the weekend, any exciting plans?
00:23:26.640 --> 00:23:29.200
Nothing about these messages seems suspicious.
00:23:29.359 --> 00:23:33.680
They're friendly, consistent, reliable, and before long you expect them.
00:23:33.920 --> 00:23:36.960
When your phone vibrates, you smile because you think it's your new friend.
00:23:37.039 --> 00:23:38.000
That's not an accident.
00:23:38.079 --> 00:23:40.240
That's exactly what the scammer wants.
00:23:40.480 --> 00:23:45.200
There's an interesting psychological principle called the mere exposure effect.
00:23:45.440 --> 00:23:48.960
In simple terms, people tend to like things they encounter repeatedly.
00:23:49.200 --> 00:23:55.920
The more often we see a face, hear a voice, read someone's message, the more familiar they become they become.
00:23:56.000 --> 00:23:58.799
And familiarity often feels like safety.
00:23:58.960 --> 00:24:01.839
That's why major companies advertise consistently.
00:24:02.000 --> 00:24:05.519
The more you see their logo, the more comfortable you become with the brand.
00:24:05.839 --> 00:24:08.000
Scammers apply the same principle to people.
00:24:08.160 --> 00:24:12.319
They become familiar, reliable, predictable, and eventually trusted.
00:24:12.880 --> 00:24:18.880
While you're enjoying casual conversations, the scammers gathering information, not through hacking, through listening.
00:24:19.119 --> 00:24:22.880
Maybe you mention I'm divorced or my kids just left for college.
00:24:23.039 --> 00:24:27.440
Perhaps you tell them I retired last year or I've always wanted to travel.
00:24:27.680 --> 00:24:29.359
To you, you're making conversations.
00:24:29.440 --> 00:24:32.480
To the scammer, you're providing valuable intelligence.
00:24:32.640 --> 00:24:38.160
Every detail helps them understand what motivates you, what worries you, what excites you, what dreams you have.
00:24:38.400 --> 00:24:41.920
Have you ever noticed that some people seem to have everything in common with you?
00:24:42.160 --> 00:24:44.400
You love Italian food, so that so do they.
00:24:44.559 --> 00:24:45.680
You enjoy hiking.
00:24:46.240 --> 00:24:48.079
Amazing that they hike every weekend.
00:24:48.240 --> 00:24:49.359
You have a golden retriever.
00:24:49.519 --> 00:24:50.319
What a coincidence.
00:24:50.400 --> 00:24:51.440
They do too.
00:24:51.759 --> 00:24:52.640
Is that possible?
00:24:52.799 --> 00:24:53.200
Of course.
00:24:53.359 --> 00:24:54.160
Is it always true?
00:24:54.319 --> 00:24:55.200
Probably not.
00:24:55.440 --> 00:24:57.200
The technique is called mirroring.
00:24:57.359 --> 00:25:01.519
People naturally trust those who have who seem similar to themselves.
00:25:01.759 --> 00:25:05.920
The scammer isn't necessarily revealing their personality, they're reflecting yours.
00:25:06.160 --> 00:25:07.839
That's like telling me like you're a big Yankee fan.
00:25:07.920 --> 00:25:10.079
You tell me you're a big Yankee fan like I am.
00:25:10.319 --> 00:25:13.599
I'm probably gonna trust you a little bit more if you tell me you're a Met fan.
00:25:14.000 --> 00:25:19.039
Another reason these scams work is because the scammer is almost always available.
00:25:19.279 --> 00:25:21.200
You send a message, they reply quickly.
00:25:21.359 --> 00:25:23.039
You have a bad day, they listen.
00:25:23.279 --> 00:25:25.440
You're excited about something, they celebrate with you.
00:25:25.680 --> 00:25:27.599
Need someone to talk to, they're here.
00:25:27.839 --> 00:25:29.599
Real relationships are messy.
00:25:29.759 --> 00:25:32.480
People get busy, they forget to text back.
00:25:32.720 --> 00:25:34.079
Scammers don't.
00:25:34.400 --> 00:25:36.960
Because responding to you is their job.
00:25:37.119 --> 00:25:42.319
Victims often mistake professional attention for a genuine affection.
00:25:42.559 --> 00:25:44.640
Eventually a scammer begins sharing photos.
00:25:44.799 --> 00:25:53.920
Maybe it's a picture from a beach resort, a luxury hotel, an expensive dinner, a designer handbag, a sports car, a skyline view from the penthouse apartment.
00:25:54.480 --> 00:25:55.680
Notice something important?
00:25:55.839 --> 00:25:58.480
They aren't bragging, at least not obviously.
00:25:58.640 --> 00:26:03.680
Instead, they say things like, Had a wonderful dinner tonight, or just relaxing after work.
00:26:03.920 --> 00:26:08.319
Their goal isn't to impress you, the goal is to normalize success.
00:26:08.559 --> 00:26:12.319
Slowly, your brain begins believing that person really is wealthy.
00:26:12.400 --> 00:26:17.680
And once you believe that, future conversations about investing feel more believable.
00:26:18.160 --> 00:26:20.640
Here's one of the most brilliant parts of the scam.
00:26:20.799 --> 00:26:26.160
Weeks pass, still, no request for money, no sales pitch, no investment opportunities.
00:26:26.400 --> 00:26:27.039
Why?
00:26:27.359 --> 00:26:31.359
Because pressure creates suspicion, patience creates trust.
00:26:31.519 --> 00:26:36.160
The scammers understand that if they wait long enough, you begin asking questions yourself.
00:26:36.319 --> 00:26:37.920
And that's exactly what they want.
00:26:38.079 --> 00:26:43.839
Imagine you've seen weeks of photos, luxury vacations, fine dining, business success, beautiful homes.
00:26:44.079 --> 00:26:47.440
One day you finally ask, How do you photo all this?
00:26:47.680 --> 00:26:49.599
Notice who introduced the subject.
00:26:49.839 --> 00:26:50.480
You did.
00:26:50.720 --> 00:26:53.039
Psychologically, that's incredibly important.
00:26:53.279 --> 00:26:56.160
The investment now feels like it's your idea.
00:26:56.400 --> 00:26:58.559
The scammer simply answers your question.
00:26:58.799 --> 00:27:01.039
This removes one of the biggest warning signs.
00:27:01.359 --> 00:27:03.440
Because nobody tried to sell you anything.
00:27:03.599 --> 00:27:05.599
At least that's how it feels.
00:27:05.920 --> 00:27:11.039
The scammer may even tell you, I usually don't share this with people, or I don't like talking about money.
00:27:11.279 --> 00:27:14.000
Those statements make them seem more trustworthy.
00:27:14.240 --> 00:27:17.519
People who constantly brag about wealth seem suspicious.
00:27:17.759 --> 00:27:21.599
People who appear reluctant to discuss it seem more authentic.
00:27:21.759 --> 00:27:23.759
Again, this isn't accidental.
00:27:24.079 --> 00:27:26.960
Every conversation has been carefully designed.
00:27:27.279 --> 00:27:29.599
By this point, you're not interested in the investment.
00:27:29.680 --> 00:27:32.079
You're emotionally invested in the friendship.
00:27:32.319 --> 00:27:38.160
Maybe it's friend in the relationship, maybe it's friendship, maybe it's mentorship, maybe it's romance, whatever form it takes.
00:27:38.319 --> 00:27:39.359
You don't want to lose it.
00:27:39.440 --> 00:27:43.039
And that's one of the most powerful psychological forces there is.
00:27:43.279 --> 00:27:48.960
People protect relationships, even when evidence begins to suggest something is wrong.
00:27:49.200 --> 00:27:53.359
Ironically, family members often recognize the scam before the victim does.
00:27:53.599 --> 00:27:56.319
A son might say, Dad, something might doesn't sound right.
00:27:56.480 --> 00:27:58.960
A daughter might say, Mom, have you ever met this person?
00:27:59.200 --> 00:28:01.920
A friend asks, Why are they always talking about investing?
00:28:02.079 --> 00:28:06.559
Unfortunately, by now, the victim trusts the scammer more than the warning.
00:28:06.720 --> 00:28:11.039
Not because they are rational, because trust changes how we interpret information.
00:28:11.279 --> 00:28:16.240
Once we believe someone is honest, we naturally explain away suspicious behavior.
00:28:16.559 --> 00:28:20.480
The stage of this pig butchering scam teaches us something profound.
00:28:20.799 --> 00:28:22.559
Trust is not proof.
00:28:22.799 --> 00:28:25.440
Just because someone feels genuine doesn't mean they are.
00:28:25.599 --> 00:28:29.759
Just because you've spoken every day for three months doesn't mean you verified who they are.
00:28:30.000 --> 00:28:32.960
Feelings are important, but verification is essential.
00:28:33.200 --> 00:28:39.839
That's a lesson we can apply not only to scams, but to nearly every online interaction.
00:28:41.680 --> 00:28:43.839
Here's something that surprises many people.
00:28:44.000 --> 00:28:46.319
The scammer usually doesn't ask for money.
00:28:46.480 --> 00:28:50.559
They convince instead they convince you to ask how you can invest.
00:28:51.039 --> 00:28:54.240
That small psychological difference changes everything.
00:28:54.480 --> 00:28:56.720
Imagine you've been talking to someone for two months.
00:28:56.880 --> 00:29:01.680
You've seen photos of the vacation, luxury restaurants, watches, beautiful apartments.
00:29:01.839 --> 00:29:03.599
They seem financially successful.
00:29:03.759 --> 00:29:07.119
One evening they casually mention, today was another great day in the market.
00:29:07.359 --> 00:29:08.400
You respond, really?
00:29:08.640 --> 00:29:09.599
How much did you make?
00:29:09.839 --> 00:29:10.960
The scammer laughs.
00:29:11.119 --> 00:29:13.599
Enough to make a to take another vacation.
00:29:13.839 --> 00:29:16.640
Still, no pressure, no sales pitch, no links, nothing.
00:29:16.799 --> 00:29:19.440
The next day, they mention another profitable trade.
00:29:19.599 --> 00:29:21.039
A few days later, another.
00:29:21.359 --> 00:29:24.480
Finally, you ask the question they've been waiting for.
00:29:24.799 --> 00:29:26.240
Can you teach me?
00:29:26.480 --> 00:29:33.920
That question is the turning point because from that point forward, you believe you're seeking an opportunity, not being sold one.
00:29:34.319 --> 00:29:36.640
The scammer never claims to be a financial genius.
00:29:36.720 --> 00:29:42.880
Instead, it often says, I'm still learning, or my uncle works in finance, or my aunt has been investing for 20 years.
00:29:43.200 --> 00:29:43.680
Why?
00:29:43.920 --> 00:29:45.680
Because people trust recommendations.
00:29:45.759 --> 00:29:52.480
If someone says my uncle is a successful investor, it feels more believable than I'm an investment expert.
00:29:52.720 --> 00:29:57.920
They're borrowing creativity, create credibility from someone who doesn't even exist.
00:29:59.599 --> 00:30:02.079
Soon the scammer says something interesting.
00:30:02.240 --> 00:30:06.160
Most people don't know this, or normally I don't tell anybody.
00:30:06.319 --> 00:30:08.240
Think about why that's so powerful.
00:30:08.400 --> 00:30:10.240
People love exclusivity.
00:30:10.480 --> 00:30:13.440
We like believing we discover something before everyone else does.
00:30:13.599 --> 00:30:15.839
It's why people line up for product launches.
00:30:16.000 --> 00:30:19.200
It's why investors search for the next big thing.
00:30:19.359 --> 00:30:21.599
It's why exclusive clubs exist.
00:30:22.079 --> 00:30:23.200
Scammers know this.
00:30:23.359 --> 00:30:27.359
They aren't selling an investment, they're selling the feeling of being an insider.
00:30:28.000 --> 00:30:32.880
Eventually the scammer says, if you're interested, you can start with a very small amount.
00:30:33.200 --> 00:30:36.079
Notice the wording, not send me your life savings.
00:30:36.240 --> 00:30:39.599
Instead, maybe 100, maybe 250, maybe 500.
00:30:39.759 --> 00:30:42.160
An amount that doesn't feel dangerous.
00:30:42.400 --> 00:30:45.440
Most people think even if I lose it, it won't ruin me.
00:30:45.680 --> 00:30:52.319
That's exactly what the scammer wants because the first investment isn't about making money, it's about building confidence.
00:30:52.559 --> 00:30:55.680
Now comes one of the most sophisticated parts of the scam.
00:30:55.839 --> 00:31:04.240
The scammer directs you to a website, maybe it's a cryptocurrency exchange, maybe it's a foreign exchange trading platform, maybe it's an AI investment portal.
00:31:04.400 --> 00:31:06.400
When you open the site, it looks incredible.
00:31:06.559 --> 00:31:15.440
Professional design, modern graphics, account, dashboard, customer support, chat, charts, graph, balances, profit history.
00:31:15.680 --> 00:31:18.079
Everything appears legitimate.
00:31:18.319 --> 00:31:21.519
Many victims later said, I researched the website.
00:31:21.680 --> 00:31:22.720
Of course they did.
00:31:22.960 --> 00:31:26.880
But here's the problem professional appearance does not equal legitimacy.
00:31:27.119 --> 00:31:31.680
Today, almost anyone can build a website that looks like a real financial institution.
00:31:31.920 --> 00:31:40.079
Criminal organizations often invest thousands or even hundreds of thousands of dollars creating convincing platforms because the payoff can be enormous.
00:31:40.319 --> 00:31:43.359
After your first deposit, something exciting happens.
00:31:43.519 --> 00:31:44.720
You log into your account.
00:31:44.880 --> 00:31:49.599
Instead of seeing 500, you see 520, then 550, then 615.
00:31:49.759 --> 00:31:51.200
Every day the balance grows.
00:31:51.279 --> 00:31:53.599
It's exciting, it's validating.
00:31:53.759 --> 00:31:55.839
You think maybe this really works.
00:31:56.079 --> 00:31:57.440
But here's the truth.
00:31:57.599 --> 00:31:59.440
You're not watching your money grow.
00:31:59.599 --> 00:32:02.880
You're watching numbers change on a screen controlled by criminals.
00:32:03.119 --> 00:32:06.799
There's no reinvestment, there's no actual trading, there's no profits.
00:32:07.039 --> 00:32:09.680
The numbers are simply changed in a database.
00:32:09.920 --> 00:32:14.480
Imagine going to a spreadsheet and changing your bank account from 500 to 5,000.
00:32:14.640 --> 00:32:16.960
It looks impressive, but the money isn't real.
00:32:17.119 --> 00:32:19.839
That's exactly what's happening behind the scenes.
00:32:20.160 --> 00:32:21.599
Now here's the brilliant part.
00:32:21.759 --> 00:32:23.599
Suppose you invest 500.
00:32:23.759 --> 00:32:25.680
Your account now says you have 700.
00:32:25.759 --> 00:32:27.920
You ask, can I withdraw some money?
00:32:28.079 --> 00:32:29.119
The scammer smiles.
00:32:29.279 --> 00:32:30.079
Of course.
00:32:30.319 --> 00:32:31.519
You request$100.
00:32:31.839 --> 00:32:34.400
A day later, your money actually arrives in your account.
00:32:34.640 --> 00:32:35.519
Wait, what?
00:32:35.680 --> 00:32:38.480
If it's a scam, why would they send money back?
00:32:38.720 --> 00:32:42.720
Because this is one of the smartest psychological investments a scammer can make.
00:32:42.960 --> 00:32:46.559
By allowing a small withdrawal, they eliminate your biggest fears.
00:32:46.720 --> 00:32:49.359
You now believe the platform is legitimate.
00:32:49.519 --> 00:32:53.759
You tell yourself, if it was fake, I would have never received that money.
00:32:54.000 --> 00:32:54.559
Exactly.
00:32:54.720 --> 00:32:55.440
That's the point.
00:32:55.599 --> 00:32:58.799
The criminal just spent$100 to earn your complete trust.
00:32:59.039 --> 00:33:02.480
And they're expecting a much larger return later.
00:33:03.039 --> 00:33:09.680
The scammer might also show you other investors, testimonials, online communities, screenshots of profits, happy customers.
00:33:09.839 --> 00:33:15.200
Some of these are entirely fabricated, others are fake accounts controlled by the same criminal organization.
00:33:15.759 --> 00:33:19.279
The goal is to convince you that many people are becoming wealthy.
00:33:19.519 --> 00:33:21.519
Humans naturally follow the crowd.
00:33:21.680 --> 00:33:26.240
If everyone appears successful, we assume the opportunity must be legit.
00:33:26.559 --> 00:33:30.720
Now that you're excited, you check your account every morning, the balance keeps increasing.
00:33:30.880 --> 00:33:34.079
Maybe you're already withdrawing a little money, your confidence grows.
00:33:34.319 --> 00:33:39.920
You begin imagining pay off the debt, retiring early, helping your children, traveling the world.
00:33:40.160 --> 00:33:46.559
The investment isn't just about money anymore, it's about becoming part of your future dreams.
00:33:46.880 --> 00:33:52.640
And once our dreams become attached to something, walking away becomes much more difficult.
00:33:53.519 --> 00:33:55.279
Notice how the relationship changes.
00:33:55.359 --> 00:33:57.279
The scammer no longer feels like a friend.
00:33:57.440 --> 00:33:58.640
They feel like a mentor.
00:33:58.799 --> 00:34:02.880
They congratulate you, they celebrate your profits, encourage your success.
00:34:03.119 --> 00:34:06.720
And when your balance increases, they say, see, I told you this works.
00:34:06.960 --> 00:34:10.960
They're reinforcing your belief, not with pressure, with encouragement.
00:34:11.280 --> 00:34:14.320
It's incredibly effective.
00:34:14.960 --> 00:34:19.119
Psychologists have studied something called commitment and consistency principle.
00:34:19.440 --> 00:34:24.800
Once people make one decision, they're more likely to make another similar decision.
00:34:25.119 --> 00:34:27.280
You invest$500, it worked.
00:34:27.360 --> 00:34:31.840
Then you invest$2,000, that works, then$5,000, then$20,000.
00:34:32.400 --> 00:34:38.559
Each investment feels easier than the last one because your previous experience appeared successful.
00:34:38.800 --> 00:34:41.599
But remember, none of those profits were real.
00:34:41.760 --> 00:34:43.360
Only the deposits were.
00:34:44.000 --> 00:34:48.880
Eventually, many victims say something like this I wish I invested more in the beginning.
00:34:49.119 --> 00:34:52.159
That's one of the most dangerous thoughts in the entire scam.
00:34:52.400 --> 00:34:55.760
Because now the victim isn't being persuaded by the scammers anymore.
00:34:56.400 --> 00:34:58.159
They're persuading themselves.
00:34:58.480 --> 00:35:02.400
And self-persuasion is often stronger than any sales pitch.
00:35:03.199 --> 00:35:06.559
Alright, I think I'm gonna make this into two parts.
00:35:06.960 --> 00:35:07.280
Right?
00:35:07.360 --> 00:35:11.840
So today we explored the investment stage of the pig butchering scam.
00:35:12.079 --> 00:35:26.239
We learned how criminals introduced themselves, presented themselves as trusted mentors, created sophisticated fake trading platforms, displayed fictional profits, allow small withdrawals, and encourage victims to dream about financial freedom.
00:35:26.480 --> 00:35:32.079
But by the end of this stage, many victims believe they discovered a once-in-a-lifetime opportunity.
00:35:32.880 --> 00:35:37.920
In reality, they're standing at the edge of the most devastating financial decisions they ever make.
00:35:38.639 --> 00:35:42.880
In part two, we'll examine the moment the everything changes.
00:35:43.039 --> 00:35:56.320
We'll see how victims begin investing tens of thousands and sometimes hundreds of thousands of dollars, why the warning signs are ignored, and how scammers convince people to keep sending them money long after they should have stopped.
00:35:56.559 --> 00:36:03.119
If you found today's episode helpful and you'd like to continue learning, I created several resources to help you stay informed.
00:36:03.519 --> 00:36:14.079
My book, Scam Proof for Seniors, dives deeper into today's most common scams, how criminal stinks, and practical strategies to protect yourself, your finances, and your family.
00:36:14.400 --> 00:36:22.960
If you have parents, grandparents, or older relatives, I also wrote a guide specifically designed to help older adults recognize and avoid the scam that target them.
00:36:23.119 --> 00:36:32.639
It uses straightforward language, real-world examples, and practical advice that's easy to follow, making it an excellent resource to share with people you care about the most.
00:36:32.960 --> 00:36:39.760
I also put in together several or low-cost resources to help you become more scam aware.
00:36:40.159 --> 00:36:51.760
You'll find it on my link tree, which is will be in the show notes, a free scam prevention guide, links to my latest books and contents, and additional tools to help you protect yourself and your family.
00:36:52.079 --> 00:37:00.159
Whenever you're just beginning to learn about online safety or you want to stay current with the latest scam tactics, there's something there for everyone.
00:37:00.400 --> 00:37:05.920
You can find all of these resources at the link in the podcast description or on my link tree.
00:37:06.079 --> 00:37:10.400
I hope you enjoyed today's episode and I really appreciate your support.
00:37:10.639 --> 00:37:11.679
I'm Professor J.
00:37:11.920 --> 00:37:12.239
Rod.
00:37:12.400 --> 00:37:14.480
We'll see you next time for part two.
00:37:39.760 --> 00:37:44.559
This has been a presentation of Little Chatter Productions, talked by Sarah, music by Kilkim.
00:37:45.039 --> 00:37:48.239
We're not part of Pod Mac Network.
00:37:48.559 --> 00:37:53.519
You can follow me at TikTok at ProfessorJrod at J R O B.
00:37:53.920 --> 00:37:57.920
Or you can email me at ProfessorJrod at J R O B at email.