Online Romance or Heartbreaking Scam?
On September 10, 2024 the New York Times ran an article* about romance scams. It described a ‘fraud farm’ in Southeast Asia that is set up for industrial-scale spamming and is controlled by an organized Chinese crime ring. For 17 hours a day each fraudster trolls dating apps for fresh victims and celebrates loudly when someone is duped into sending money.
The individual described in the story is a 32 year old male. His organization specialized in scams known as pig butchering, a long con where fraudsters gain a person’s trust under the pretense of a budding romance or friendship (the fattening of the hog) before defrauding the victim (the slaughter).
The criminals work from scripts and are trained to build relationships with friendly, overly trusting individuals searching for new friends or romantic partners. They usually begin a scam with a text message or a friend request on social media or dating websites. The scammer slowly develops the connection, often sending pictures, videos and love letters to build trust and establish a bond. They spend hours a day talking with their “new love”. Long conversations serve another purpose – they keep the victim occupied, which limits his/her interaction with friends and relatives in the real world.
Once the targeted victim is emotionally engaged, the scammer makes a request for money. A variety of reasons are given, such as an emergency, to pay off a debt, or to finance a business. One popular ploy is a promise to teach the victim how to invest in crypto and quickly double their money. In some cases, the scammer may claim to have fallen in love with his target and now needs enough cash to travel to a romantic location for a face to face meeting. Whatever the story, the funds that are sent never seem to be quite enough to resolve the situation.
The demands for monetary gifts grow larger and are unending, sometimes leading to financial ruin. A skilled scammer can be so persuasive that he/she can obtain enough personal information to steal the victim’s identity and take over their online accounts.
If any portion of this story sounds familiar, we urge you to take quick action. Change phone numbers right away. Monitor your accounts daily. If a relative is being conned, make arrangements to get him/her out of their home and away from their phone. Involve them in activities with your family and other people.
Abilene Teachers FCU has a team dedicated to fighting fraud and identifying suspicious behavior. They can be reached during business hours at our main contact numbers, 325-677-2274 and 800-677-6770. When you call, ask to speak with the Fraud Department.
*The first two paragraphs of this article are attributed to New York Times reporter Tara Siegel Bernard
