Pig-butchering is the new scam

Ever got a call from someone who said he or she had dialled your number by mistake, and then struck up a conversation with you and eventually introduced the idea of making an attractive business investment? Or maybe you got a WhatsApp message or SMS which offered help to make easy money?

Even if you haven’t received any such communication, be aware that you may do so soon. Pig butchering — the latest addition in the long list of cyber frauds — has become a worry for law enforcement agencies across the world. In India, the scale of pig butchering scams is estimated to run into tens of thousands of crores.

This scam uses emotional manipulation to lure people into fraudulent investment schemes. The scammers first create fake social media profiles or online dating profiles and connect with the unsuspecting victims. They pose as highly successful professionals or romantic partners.

Additional DGP, Crime Investigation Department (CID) Shikha Goel, who is also the Director of TS Cyber Security Bureau, says that the majority of Pig butchering cases are investment frauds. “Recently, we analysed some profiles and were able to identify and arrest 18 persons from different parts of the country. Pig butchering accounts for 56 per cent of the money that is lost in cybercrime,” says the senior IPS officer. Her teams picked up the accused from Mumbai, Ahmedabad, Delhi and Hyderabad, and some Chinese connections of the accused were also revealed. More and more Indians are being recruited to execute the fraud.

The modus operandi

Explaining the modus operandi, Shikha says the con artistes build trust with users by creating fake profiles on WhatsApp and Telegram apps, and manipulate their emotions. “Some of the accused were agents of Dubai-based fraudsters, while some held accounts to which money was transferred by the victims. In all these instances, money was finally going into Dubai-based accounts,” she revealed.

It all starts with the victim receiving a WhatsApp message or an SMS from an unknown number. “The WhatsApp DP appears very attractive, and is usually a picture of a beautiful lady,” she says.

The sender says she is working as an HR manager of a company offering a part-time job. When the victim accepts the offer, the fraudster sends three YouTube links and instructs the victim to click on them, ‘like’ the video and take a screen shot and forward it to her. “Each ‘like’ earns the victim Rs50. Upon completion of this task, the victim is asked to contact the company receptionist over Telegram app to claim Rs 150,” explains the police officer.

The second woman sends the victim a link to be opened for registration. Once registered, they will be asked to complete further tasks. “Initially, the victim will be asked to make purchases worth Rs 500, for which he/she gains amounts ranging to Rs 350 to Rs 500. Then the stakes keep getting higher and so do the gains. Eventually, when bigger amounts are “invested,” they won’t be able to withdraw the money.

“In some cases, victims are told that if they invest in Crypto, the company would trade it and earn them double the amount. When they invest large amounts, the so-called profits do not get credited to their accounts,” adds Shikha Goel. “A lot of software engineers are falling prey to this, besides people from all walks of life,” she adds.

They know you

Nirali Bhatia, Cyber Psychologist and TEDx speaker, says the fraudsters use social engineering skills to lure victims. “They would have done research and homework on you and your likes or dislikes, and know where are you working, what is your social digital footprint and all of that,” she says.

Since they have a lot of information on the victims, they make their pitch to earn your trust.

“When a total stranger starts saying things that align perfectly with your likes, dislikes and views, the first red flag should go up,” she says.

“One should have zero trust in cyberspace and  we should look at everything from the point of doubt until we are very sure. Let’s use our common sense,” she cautions, adding that suspect callers should be asked a lot of questions.

To be safe

• Don’t respond to WhatsApp/SMS messages from strangers
• Don’t download any mobile apps or web applications as directed by strangers
• Don’t send money to private accounts or buy crypto to invest in crypto trading
• Don’t share personal details like Aadhaar or bank details with strangers
• Remember, YouTube ‘likes’ never earn money
• Social media promotions don’t add to the promoters’ incomes, they only benefit the promoted company.

During investigation, it has come to light that Chinese nationals are contacting Indians over Telegram app and offering lucrative commissions for providing access to bank accounts. Similarly, they are offering commissions to the agents who create WhatsApp and Telegram groups to cheat Indians.” — Shikha Goel, Additional DGP, CID

On the Internet, please practice zero trust. There are no free lunches, there are no lotteries and there is nobody who is out to help you grow rich.” —Nirali Bhatia, Cyber psychologist

Zerodha CEO Nithin Kamath recently highlighted the growing prevalence of pig butchering scans in India. In a post on microblogging site X (formerly Twitter), Kamath revealed that scammers build a rapport with victims online before defrauding them, which has resulted in losses amounting to tens of thousands of crores. “It’s scary how many people fall for fake job offers, high return investments schemes and crypto investments,” he wrote.

Rakesh Bedi duped of Rs 85,000

Veteran Bollywood actor Rakesh Bedi fell victim to cyber theft and was later tricked out of Rs 85,000 by someone posing as an Indian Army official. Soon after realising he was being duped, the actor informed the police. The conman claimed to be an Army officer named Aditya Kumar. The actor  said in an official complaint, that on December 25, the conman called him and asked him to send images and details about his flat listed for sale because he was interested in purchasing it.

The conman informed the actor that he would be paying the Rs50,000 token and also convinced Bedi to transfer Rs 50,000. According to the accused, because it was an Army account, the balances of the sender’s and receiver’s bank accounts had to be the same.