Ever heard of “Pig Butchering”?

I’m fairly certain that you probably have; however, I’m also quite confident that you’ve never heard of it in the context I’m referencing… Fraud!  Per Shazam’s June 20, 2024, Blog post, Pig Butchering is “a confidence and investment scam with a bloody name. The fraud refers to the practice of fattening a pig before slaughter. But in this case, the “pig” is a person who was gradually lured by scammers using elaborate storylines to gain their trust. Once this happens, the person is ready for “butchering” — meaning they’ll be bled dry of their money.”  Click the link below to read more about this new way of defrauding unsuspecting victims.

https://www.shazam.net/news/shazam-blog/-pig-butchering-an-apparent-mistake-that-turns-into-mayhem-for-accountholders/

Keeping up with the newest fraud trends is exhausting, as it seems as though the fraudsters are always one step ahead.  However, there are a few things to keep in mind that you can do to keep you and your money safe.

• Always know who you are dealing with. Avoid responding to unsolicited and unexpected contact.
• Do not provide your banking details to anyone over the phone.
• Never click on URL links or open attachments in suspicious emails or texts.
• Just because your name is in the text or email, it does not mean it is contact from the Bank. Always double-check directly with us, your Bank.
• Always go to our internet banking and/or account sign in pages directly, do not use the links provided in messages. (Amazon, PayPay, Credit Cards, Banks, etc.)
• A genuine call from the fraud department or the Bank will never ask you to verify an entire account or card number.
• Do not trust the information provided by the scammer. Any information provided is likely to be false like their contact number and designed to create an impression of believability. Go directly to their website for contact information.