FBI warns about 'pig butchering' scams, what are they?
ATLANTA - The FBI's Atlanta office is warning residents about a spike in scams during the holiday season.
Federal law enforcement officials predict an increase in romance and investment scams this year due, in part, to a rise in "Pig Butchering." The scam is named after the practice of fattening a pig for slaughter. In this case, scammers build a relationship with a victim online before convincing them to send money or invest in high yield crypto-currency accounts.
The FBI says scammers are targeting victims with messaging and social media apps, as well as phony online shops.
The FBI provide advice for what to do if you think you're the victim of a scam and how to avoid them altogether.
Ways to avoid holiday scams
- Verify a retail website or person is legitimate
- Use the Better Business Bureau’s website (www.bbb.org) to investigate retailers
- Scrutinize things sold at significantly discounted prices
- Make sure the site you buy from has "https" in the web address, otherwise your personal information is not safe
- Beware of sites that require payment with a gift card.
- Don't give someone your credit card information through unsolicited emails, don't click on links or reply in unsolicited emails
- Routinely monitor your credit card statements
- Verify requests for personal information by contacting them using the information on their website
- Use strong passwords with banking, credit card and rewards accounts, change passwords regularly
What to do if you're a victim of a scam
- Immediately contact your bank and stop transactions if you discover fraudulent or suspicious activity
- Ask your bank to call the financial institution involved in the suspicious transaction
- Report to the Internet Crime Complaint Center at IC3.gov