Increasingly online scams have become more sophisticated and the fraudsters have taken a more long-term approach.

The investment scam mainly targets unemployed youth, students or housewives making them lose huge amounts of money on a daily basis.

In 2024, "pig butchering" scams defrauded victims of $3.6 billion, a 25% rise from 2023, highlighting their growing sophistication. Scammers lure victims through social media or dating apps, posing as successful investors to build trust over weeks.

A new cyber fraud scheme called the 'pig butchering scam' targets vulnerable individuals by building trust and manipulating them into investing in fake opportunities. WhatsApp is the most-abused platform for this scam,

The "pig butchering scam" targets vulnerable individuals through social media and messaging apps, gaining their trust before luring them into fake investment opportunities.

The pig butchering scam, which is believed to have started in China in 2016, targets gullible individuals with whom cyber criminals build trust over time, ultimately convincing them to invest in cryptocurrency or some other lucrative scheme when their money is stolen.