Pig Butchering Scams: The Hidden Threat of Online Investment Fraud

Know Your Compliance (KYC)

Chris Thompson, Senior Investigator with the BC Securities Commission, to unpack the growing problem of "pig butchering" scams. Chris explains how fraudsters build trust over time, manipulating victims into draining their savings through elaborate schemes—many involving crypto transfers, fake platforms, and recovery scams. With stories of unsuspecting victims and shocking insights into how organized these global fraud networks are, this conversation is an essential wake-up call for anyone involved in financial transactions or working with vulnerable clients. Chris emphasizes the importance of vigilance, asking questions, and recognizing red flags like sudden large financial withdrawals or out-of-character transactions. Whether you're a frontline real estate agent, mortgage broker, or financial professional, staying aware of these indicators can help stop fraud before it starts.

Key Takeaways:

• Fraudsters coach victims on what to say to avoid raising red flags with financial institutions or advisors.
• Victims are often targeted during periods of emotional vulnerability, such as after a loss, divorce, or job change.
• Scammers manipulate online banking and crypto accounts, showing fake balances to gain trust.
• Pig butchering scams are sophisticated operations with HR departments, scripts, and extensive infrastructure.
• Always verify investment opportunities through trusted, registered sources and question any suspicious transactions.

About the Guest

Learn More about Christ at: https://www.bcsc.bc.ca/guardians/meet-our-enforcement-staff-investigator-chris-thompson

Connect with Greg and ReallyTrusted at:

https://reallytrusted.com/

https://www.facebook.com/ReallyTrusted/

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