Hardly a day passes when we fail to notice some sort of scam on our phones or in our emails, attempting to trick us into downloading malware, revealing a password, or making a payment for something that isn’t genuine. However, there is one scam that is becoming more and more popular that you really don’t want to fall for.
A “pig butchering” scheme is so named because the perpetrators will “fatten up” a victim to gain their trust before “butchering” them — generally by convincing them to invest significant sums of money in a fake venture and then stealing it all.
The US Department of Justice reported that four males, three of whom were from Southern California, were recently charged in connection with such a scheme. According to the DOJ, the scam cost victims $80 million.
The DOJ charged Alham Lu Zhang, 36, of Alhambra, Justin Walker, 31, of Cypress, Joseph Wong, 32, of Rosemead, and Hailong Zhu, 40, of Naperville, Ill., with conspiracy to commit money laundering, international money laundering, and concealing money laundering. Zhang and Walker were arrested and appeared in court last week. If convicted, they
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This article has been indexed from CySecurity News – Latest Information Security and Hacking Incidents
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