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Banff RCMP are cautioning Bow Valley residents to think twice after the recent online dating fraud called the “Pig Butchering Scam” swindled a Banff woman out of $50,000.
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The scam that originated in China, and is now gaining prominence in western countries, Europe, US and even here in the Bow Valley.
Banff RCMP Cst. Yanik Frenette, who currently investigating the file, said the scam first involves building a romantic relationship with the victim online. The professional con-artists then spends months building victim’s trust.
“It’s sad because the scam is so sophisticated that it is hard to see any red flags. The lady from Banff lost approximately $50,000, believing she had made $150,000 in crypto investments.
“It’s similar to the popular Netflix show the Tinder Swindler in that the con-artist makes themselves appear rich in their online profile photos, but the Pig Butchering Scam is way bigger than the Tinder Swindler in that we are talking about millions and millions of dollars,” said Cst. Frenette.
Cst. Frenette said instead of asking for your money, the scammer refers you to a third-party investment application or website. Since they are not asking you directly for your money, the red flag can be harder to recognize.
“They are…
