In this episode of the Smarticle podcast, Brandon introduces Erin West, a former Deputy District Attorney and founder of Operation Shamrock, to delve into the alarming rise of 'pig butchering' scams. Erin explains how these scams trick victims, often through elaborate schemes involving romantic or investment opportunities, leading to devastating financial losses. She discusses the difficulties victims face in reporting these crimes and highlights the gaps in law enforcement and financial institutions' responses. Erin shares her efforts to educate and equip law enforcement through the Crypto Coalition and emphasizes the need for greater awareness and kindness towards scam victims. The conversation also touches on the international origins of these scams and the lack of intervention by global...
In this episode of the Smarticle podcast, Brandon introduces Erin West, a former Deputy District Attorney and founder of Operation Shamrock, to delve into the alarming rise of 'pig butchering' scams. Erin explains how these scams trick victims, often through elaborate schemes involving romantic or investment opportunities, leading to devastating financial losses. She discusses the difficulties victims face in reporting these crimes and highlights the gaps in law enforcement and financial institutions' responses. Erin shares her efforts to educate and equip law enforcement through the Crypto Coalition and emphasizes the need for greater awareness and kindness towards scam victims. The conversation also touches on the international origins of these scams and the lack of intervention by global authorities. Tune in to learn how to protect yourself and support initiatives against these destructive scams.
00:00 Introduction to Pig Butchering Scams
01:24 Meet Erin West: The Scam Fighter
03:24 Understanding Pig Butchering Scams
05:09 The Mechanics of the Scam
07:02 The Human Cost and Reporting Challenges
10:13 Origins and Operations of Pig Butchering
16:05 Targeting and Tactics of Scammers
22:11 Financial Impact and Institutional Response
25:56 The Scam Setup: How Victims Are Tricked
26:51 Emotional Manipulation Tactics
29:24 The Role of Financial Institutions
31:32 Challenges in Law Enforcement
33:12 Building a Coalition Against Crypto Crimes
35:25 The Need for Better Education and Tools
42:15 The Responsibility of Social Media Companies
44:23 Final Thoughts and Call to Action
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