The U.S. Justice Department recently seized nearly $9 million worth of Tether cryptocurrency, linked to an organization involved in the surging romance investment and crypto scams, pig butchering. These fraudulent crypto investment schemes are prominent in Southeast Asia and have been reported to become a global billion-dollar industry.
What is pig butchering? What should you do if you are a victim of this crime? What prevention measures are being taken by law enforcement to tackle it?
In this ACAMS Live episode host Craig Timm interviews Erin West, a California-based prosecutor specializing in cybercrime. Craig and Erin delve into the specifics of pig butchering: what one should do if they are a victim of this crime, steps to take if you know someone is a victim of pig butchering, actionable steps anti-financial crime professionals can take if they have clients who are victims and how they can help tackle this complex cyber-enabled scam.