This process is how Kevin, a lifelong saver and small business owner in New Jersey, lost $716,000 that he wired to scammers in 2023.
This process is how Kevin, a lifelong saver and small business owner in New Jersey, lost $716,000 that he wired to scammers in 2023.
They ask for a screenshot of your wire so they can credit your brokerage with fake money and take the real money soon as you send it.
They ask for a screenshot of your wire so they can credit your brokerage with fake money and take the real money soon as you send it.
The scammers will tell you that’s just how crypto works and instruct you not to tell your bank you are “investing” in crypto.
The scammers will tell you that’s just how crypto works and instruct you not to tell your bank you are “investing” in crypto.
The fake online brokerage you’re dealing with will give you a “recharge account” to wire funds to, along with a request to send a screenshot when you’re done wiring the money, which then appears in the fake brokerage.
The fake online brokerage you’re dealing with will give you a “recharge account” to wire funds to, along with a request to send a screenshot when you’re done wiring the money, which then appears in the fake brokerage.
Once a scam gang in, say, Cambodia, has identified a fraud target willing to wire funds, they hire a motorcade that controls a U.S. bank account.
The motorcade gives the account details to the scammers, who send them along to the victim.
Once a scam gang in, say, Cambodia, has identified a fraud target willing to wire funds, they hire a motorcade that controls a U.S. bank account.
The motorcade gives the account details to the scammers, who send them along to the victim.
They’re called “motorcades” (车队) in Chinese and they’re incredibly efficient at helping fraudsters collect and move stolen funds.
They’re called “motorcades” (车队) in Chinese and they’re incredibly efficient at helping fraudsters collect and move stolen funds.
And how would these scammers move tens of billions of dollars of stolen money across borders without raising alarms?
And how would these scammers move tens of billions of dollars of stolen money across borders without raising alarms?
Here’s Cezary's report on the crushing cycle of victimization involved in pig-butchering scams:
Here’s Cezary's report on the crushing cycle of victimization involved in pig-butchering scams:
That’s just for scammers based in Asia, who often operate out of huge, fortified compounds in Laos, Cambodia and Myanmar like this one👇
That’s just for scammers based in Asia, who often operate out of huge, fortified compounds in Laos, Cambodia and Myanmar like this one👇
Reporter Cezary Podkul interviewed dozens of victims from all walks of life: a C-suite executive, PhDs, a scientist, small business owners, a parking lot attendant and everyone in between. It’s a hugely potent and financially devastating scam.
Reporter Cezary Podkul interviewed dozens of victims from all walks of life: a C-suite executive, PhDs, a scientist, small business owners, a parking lot attendant and everyone in between. It’s a hugely potent and financially devastating scam.
Here's how a simple message could be a small piece of a global fraud machine that exploits some of the world's largest banks. THREAD 🧵
Here's how a simple message could be a small piece of a global fraud machine that exploits some of the world's largest banks. THREAD 🧵
www.cnbc.com/2019/05/14/m... Mark Cuban: 'We at the top' can make less to fix income inequality
www.cnbc.com/2019/05/14/m... Mark Cuban: 'We at the top' can make less to fix income inequality