NASHVILLE, Tenn. (WTVF) — Have you ever received a text message out of the blue from an unknown number that was clearly meant for someone else?
There’s a chance it was part of a “Pig Butchering Scam,” and officials in Tennessee are raising awareness about them.
"It is designed by scammers to take you for everything. They want to treat you like a butcher treats a pig," said Kevin Walters with the Tennessee Department of Commerce and Insurance.
Walters said these are scams that have cost victims millions over the past few years.
According to TDCI, Pig Butchering describes a scam that happens over a long period of time to steal someone’s money.
It all starts with that text or call.
"It says ‘I've got the wrong number’... and then they attempt to get the hook in you, which is, ‘oh, gosh, I'm really sorry. Tell me more," Walters said.
From there, the scammers gain your trust like a farmer fattens a pig.
Then the conversation turns to money and investing.
"We want to tell you about a great investment opportunity. We want to tell you about how you can make money that no one else can. You'll be the first to the door," Walters said.
That process can be repeated over and over again until you give in and your bank account is empty.
Unlike many scams that are quick, this can take weeks or months of seemingly friendly interaction.
I asked Walters for tips on how to avoid falling for this trap.
"Any kind of investment that you're approached about, treat skeptically," Walters said.
Here’s a few red flags TDCI advises to watch out for.
- That out-of-the-blue text message
- Building a relationship over time
- Encourages a potential victim to start investing with cryptocurrency
- Asking to switch from talking on one app to another to avoid detection.
Click here for more tips to avoid falling for this type of scam and others.
This story was reported on-air by Robb Coles and has been converted to this platform with the assistance of AI. Coles verifies all reporting on all platforms for fairness and accuracy.
Do you have more information about this story? You can email me at robb.coles@newschannel5.com.
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