Scammers make billions convincing victims of love


Source: cnbc.com cnbc.com
Key Topics in this News Article:
News Snapshot:

Halfpoint | Istock | Getty Images The road to Kaimi’s ruin started in December, with an Instagram message about a Japanese monkey from a handsome stranger who called himself Mike. Over the coming months Mike and Kaimi would develop a friendship that quickly evolved into a romance. Kaimi had no idea he had become ensnared in a romance scam known as “pig butchering,” from the Chinese phrase sha zhu pan — the name coming from the idea that scammers must “fatten up” victims first with flattery and fake bonding before stealing their money. Experts told CNBC it’s easy to dismiss…

  • This field is for validation purposes and should be left unchanged.
  • Newsletter to Your Inbox

    China intelligence delivered each week!

  • This field is hidden when viewing the form