“The Ugly Truth About Pig Butchering Scams: How to Protect Yourself from the $3 Billion Fraud Industry”
The FBI’s Internet Crime Complaint Center (IC3) 2022 report predicts an increase in online scams and frauds. According to the report, the past year witnessed a surge in online frauds, scams, and identity theft cases, with victims losing over $4.2 billion to cybercriminals. The IC3 report emphasizes that cybercriminals’ tactics are getting more sophisticated, and it is becoming increasingly difficult to identify and prevent such attacks.
One of the most notable cases is a recent scam that entails pig butchering. According to the IC3 report, scammers defrauded farmers by offering to purchase pigs for butchering at a higher cost than the market price. The scammers make an initial payment and agree to transport the pigs; however, they fail to show up or provide any further communication. Hence, leaving the farmers with an inventory of livestock they cannot sell and a big financial loss.
The IC3 report also highlights that cybercriminals use different tactics such as fake job listings, romance scams, and business email compromise attacks to defraud individuals and organizations. Additionally, the report indicates that ransomware and supply chain attacks continue to be a significant concern.
It is critical to note that the IC3 report highlights the importance of safeguarding personal information, reporting any suspicious activities, and taking preventive measures to protect oneself against cybercriminals’ tactics. The report also calls for businesses and organizations to invest in security measures such as anti-malware, firewalls, and employee training to ensure they are protected against potential attacks.
The FBI’s IC3 report predicts an increase in online scams and frauds in 2022, with cybercriminals using more sophisticated tactics. Hence, it is becoming increasingly difficult to identify and prevent such attacks, and it is critical to safeguard personal information, report suspicious activities, and take preventive measures to protect oneself and businesses against potential attacks.