GARDAÍ in Limerick are warning people throughout the city and county to be vigilant following reports of a sophisticated, long-term romance scam that has been operating internationally.
The new “Pig Butchering Romance Scam”, according to Gardaí, involves scammers making contact with their victims on dating apps, selling them on a life of glamour, and encouraging them to invest in cryptocurrencies so they can life the lavish life too.
The scammer will guide the victim through the investing process, using websites that look genuine, but that are all controlled by the scammer.
While the websites may seem legitimate, they are all controlled by scammers, who assure victims that they are getting a huge return on their investments and will further encourage them to invest even more.
Eventually, the person will realise it was a scam and that their money is gone.
Garda John Finnerty, of Henry Street Garda Station, said that the name of the scam comes from the process of fattening a pig before slaughter.
“Targets are individuals seeking love and companionship online. It is a long-term fraud that combines romance scams, investment schemes, and cryptocurrency fraud.”
“It is named after the process of progressively feeding a pig to make it bigger before it is slaughtered,” he explained.
Anyone who thinks they have fallen victim to this sort of scam should contact their local Garda station, where their complaint will be treated with “the utmost confidentiality”, said Garda Finnerty.
Official advice is to seek independent legal and financial advice, which should always be gotten before making an investment, Garda Finnerty explained.
“If you are considering making investments, seek independent financial and legal advice,” the Henry Street Garda concluded.
