Beyond “Pig Butchering”: New Term for Romance Investment Fraud

Interpol urges the discontinuation of the term “Pig Butchering” when describing scams involving online romance and investment fraud. According to the agency, the term unfairly stigmatizes victims of these schemes and may discourage them from seeking assistance from law enforcement.

The phrase “Pig Butchering” refers to the social engineering tactics employed by fraudsters, where victims are metaphorically referred to as “pigs” that are “fattened” before being “slaughtered.” Scammers often initiate contact through social media, building trust and rapport, which they later exploit to convince victims to invest money or provide funds under the guise of loans.

Once victims have invested substantial sums into fraudulent schemes, the scammers “slaughter” their trust, absconding with the money and severing all communication. These schemes frequently involve cryptocurrencies and other financial markets.

The FBI’s 2023 Cybercrime Report highlights a 38% increase in investment fraud, with losses amounting to $4.57 billion compared to $3.31 billion in 2022. Beyond the financial toll, such scams inflict severe psychological harm on victims.

Interpol contends that the term “Pig Butchering” dehumanizes and humiliates those affected, potentially deterring them from reporting the crimes. As an alternative, the agency advocates for the use of the term “romance fraud,” which emphasizes the manipulative tactics of the perpetrators while absolving victims of any implied culpability.

This shift in terminology forms part of a broader initiative aimed at encouraging victims to approach law enforcement without fear of judgment and to access the necessary support.

Although authorities may not always succeed in recovering stolen funds, timely reporting of such scams can help prevent future crimes and assist in apprehending the offenders.