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Foreign Scammers Use U.S. Banks to Fleece Americans

propublica.org

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Re: Foreign Scammers Use U.S. Banks to Fleece Americans

#31

Post by schmookeeg »

os2warpman wrote: post #23

This is an earnest request. Please help me understand the mindset of people who fall for pig butchering scams. The thought of giving money to a stranger who I met via a dating app or other social media platform who shifted the conversation to WeChat and asked me to wire money to a bank account is so incomprehensible to me that the mind of someone who would do that is entirely different to how mine is constructed phys…

The Economist has an interesting podcast about this phenomenon called Scam Inc. You need to be a subscriber to hear more than the first few eps, but they were interesting and went into this situation in detail. Worth a listen to understand this crime and its nuance a little better.

Re: Foreign Scammers Use U.S. Banks to Fleece Americans

#32

Post by IncreasePosts »

seatac76 wrote: post #17

So pig butchering based out of SEA is now the dominant scam form? It’s crazy how quickly this came to dominate the landscape.

Probably having AI increases the efficiency of this operation substantially, since it is heavily personalized and requires a lot of long term, non-paying effort on the part of the scammer . Either from directly replying to messages, or from automatically developing dossiers from victims social media profiles so you know what topics get them going.

Re: Foreign Scammers Use U.S. Banks to Fleece Americans

#33

Post by 0cf8612b2e1e »

SpicyLemonZest wrote: post #27
os2warpman wrote: post #23

This is an earnest request. Please help me understand the mindset of people who fall for pig butchering scams. The thought of giving money to a stranger who I met via a dating app or other social media platform who shifted the conversation to WeChat and asked me to wire money to a bank account is so incomprehensible to me that the mind of someone who would do that is entirely different to how mine is constructed phys…

The trick is that they don't feel like an unsolicited stranger. The stories you read about these scams summarize away weeks or months of talking, flirting, maybe falling in love a little bit, until they're not a stranger but your very cute and very rich friend. What does work is an absolute, ironclad rule that I do not trust and am not friends with anyone I meet online until we've met multiple times in person. But th…

I think of it like the xz backdoor. A long time investment of goodwill over months before you tighten the noose.

The more sophisticated attempts seemingly do not straight up ask for cash. They offer an investment opportunity on a scam website which will report the investment doing well, so the victim will independently invest more money.

Re: Foreign Scammers Use U.S. Banks to Fleece Americans

#34

Post by _zagj »

mschuster91 wrote: post #6

I've said it before here, I'll say it again: it is high time that our governments follow the money and the scammers. Sanction the source countries of these scams to hell and beyond until they clean up their act and pray in front of us on their knees for forgiveness. And yes, I'd like particularly Narendra Modi to kneel - it's hard to wish anything else after watching more than two Scammer Payback videos. Obviously In…

It's strange how some of these countries don't take action on their own behalf, if only to preserve their international reputation and the reputation of their citizens abroad. India is a great example. Do Indians not realize how much damage they've done to their reputation by allowing scam call centers to flourish? Are they not aware of

> DO NOT REDEEM

Imagine Americans living in small towns with few to no Indians, and their only association with Indian accents is someone trying to steal their (or their parents' or granparents') money.

EDIT: seatac76, your reply got shadowed; perhaps your entire account. Not sure why.

Re: Foreign Scammers Use U.S. Banks to Fleece Americans

#36

Post by rikthevik »

os2warpman wrote: post #23

This is an earnest request. Please help me understand the mindset of people who fall for pig butchering scams. The thought of giving money to a stranger who I met via a dating app or other social media platform who shifted the conversation to WeChat and asked me to wire money to a bank account is so incomprehensible to me that the mind of someone who would do that is entirely different to how mine is constructed phys…

The Beatles had it right with Eleanor Rigby.

"All the lonely people, where do they all come from? All the lonely people, where do they all belong?"

There are a lot of sad people out there. And some of them are at the nunchucks, bongs, and throwing stars store.

Re: Foreign Scammers Use U.S. Banks to Fleece Americans

#37

Post by jabroni_salad »

os2warpman wrote: post #23

This is an earnest request. Please help me understand the mindset of people who fall for pig butchering scams. The thought of giving money to a stranger who I met via a dating app or other social media platform who shifted the conversation to WeChat and asked me to wire money to a bank account is so incomprehensible to me that the mind of someone who would do that is entirely different to how mine is constructed phys…

I do think social desperation is real and does a number on some people. There are people out there in the world who will enter fairy tale love story mode if the right sequence of words reaches them as if they were some kind of self destructive sleeper agent.

A lot of these people lived decent rational lives and should know better. They are college educated and had good careers and large retirement accounts and made all the right financial decisions to lead a good life. But then some stranger pretends to misdial your number and reads a script about how they feel like they really connected with you. You get 'activated' and enter an irrational universe where you can be convinced to send your money away and keep the relationship a secret from everyone you know and lie to your bank about why you are withdrawing anything and who knows what else.

I like to think I am immune to this but who knows what I will be in 30 years. I make a living by being distrusting (security) and got activated as a good boglehead at a really young age. Or maybe the stupid-juice will suffuse my brain at age 70 and I'll give it all away to a cute AI voice that robodials me after decades of not answering any call that isn't already in my contacts, and everybody who knows me will be mystified as to why, including myself.

Re: Foreign Scammers Use U.S. Banks to Fleece Americans

#38

Post by rightbyte »

os2warpman wrote: post #23

This is an earnest request. Please help me understand the mindset of people who fall for pig butchering scams. The thought of giving money to a stranger who I met via a dating app or other social media platform who shifted the conversation to WeChat and asked me to wire money to a bank account is so incomprehensible to me that the mind of someone who would do that is entirely different to how mine is constructed phys…

I think you are looking at it from the wrong direction. The scammers are calling everyone.

Of those you have met, who would be at risk of falling for such scams? I know about maybe two.

And the combination of being both susceptible and not chronic broke is quite rare. Both those I know about who I guess fall for this stuff are broke.

Re: Foreign Scammers Use U.S. Banks to Fleece Americans

#39

Post by bikecuck2 »

SapporoChris wrote: post #14
mschuster91 wrote: post #6

I've said it before here, I'll say it again: it is high time that our governments follow the money and the scammers. Sanction the source countries of these scams to hell and beyond until they clean up their act and pray in front of us on their knees for forgiveness. And yes, I'd like particularly Narendra Modi to kneel - it's hard to wish anything else after watching more than two Scammer Payback videos. Obviously In…

https://www.worldometers.info/gdp/gdp-by-country/ The US GDP is more than 27 trillion. If 158 billion is being lost. That's about .6% of the GDP. So, my question is, why does this have to stop? If it is stopped the benefits to the global population seems trivial. I'm sure at the individual level it is devastating. Good luck getting the national government to care about such a small percent.

"The total happiness in the world increased"

Re: Foreign Scammers Use U.S. Banks to Fleece Americans

#40

Post by toast0 »

_zagj wrote: post #29
os2warpman wrote: post #23

This is an earnest request. Please help me understand the mindset of people who fall for pig butchering scams. The thought of giving money to a stranger who I met via a dating app or other social media platform who shifted the conversation to WeChat and asked me to wire money to a bank account is so incomprehensible to me that the mind of someone who would do that is entirely different to how mine is constructed phys…

I've only heard of "pig butchering" scams in the context of people who pose as family/friends of people on social media whom they target with urgent requests for money, e.g.: > I've been arrested/kidnapped/lost my wallet the scammers create a flase sense of urgency and exploit the victim's concern for their loved one's well-being.

IMHO, that's not really 'pig butchering', that's another category; FTC calls it 'family emergency scamming'.

To me, pig butchering is a long term process where the victim is convinced that a new contact is a trusted friend, and then the trusted friend needs money for (transportation, investment, living arrangements, etc). The symbolism being that the victim is a pig that is fattened up via building up a relationship, and then butchered via the demand for money.

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