Investment Scams

New York’s Top Lawyer Warns About “Pig Butchering” Scams: Here’s What You Need to Know In a formal consumer alert issued in February 2026, New York State Attorney General Letitia James warned residents about a sophisticated and devastating type of fraud known as “pig butchering.” The name, while unusual, is a direct translation of a Chinese term that describes the scam’s cruel process: fattening a victim with trust before slaughtering them financially. ...

The “Friendly Stranger” Scam: How “Pig Butchering” Cons People Out of Their Savings If you get a message from a stranger—maybe on WhatsApp, social media, or a dating app—strike up a friendly conversation, and eventually, they start talking about a “foolproof” investment opportunity, you might be dealing with more than just a new acquaintance. You could be the target of a sophisticated, long-term fraud known as a “pig butchering” scam. ...

What You Need to Know About “Pig Butchering” Scams In the evolving landscape of online fraud, one of the most insidious and financially devastating schemes is known as “pig butchering.” The name, while graphic, is a direct translation of a Chinese term that describes the scammer’s process: fattening up a victim with trust and affection before slaughtering them financially. Recently, New York Attorney General Letitia James issued a stark consumer alert warning New Yorkers about the sharp rise in these sophisticated scams. Understanding how they work is your first line of defense. ...