March 29, 2024

While we have been focused on the COVID-19 pandemic, vaccine mandates and related protests for much of the past two years, a wave of financial fraud has spread rapidly across Canada and around the world.

While not a deadly respiratory virus, this new approach to scamming has affected thousands of individuals globally, with victims defrauded of a record US$14 billion in 2021. The Canadian Anti-Fraud Centre reported nearly $100 million stolen from victims in Canada alone in 2020 and 2021.

Emotional manipulation

The pig-butchering, or “sha zhu pan,” scam is a highly sophisticated form of romance and cryptocurrency investment scam. Scammers — mainly working for Chinese organized crime gangs — pose as attractive professionals or entrepreneurs looking for true love. They use dating apps, including Tinder, Grindr and Hinge, as well as social media platforms like Facebook and Instagram to match with their potential victims. The scammers target single women and men, LGBTQ+ and those over 50 years old, as well as new immigrants as their potential victims.

Using a combination of savvy technological tools, fake social media profiles and psychological manipulation, the scammers trick victims into believing that they live close by and are willing to meet in person whenever COVID-19 restrictions are lifted. In reality, the scammers are located mainly in…

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