Suspicious Activity Report

“Pig Butchering”: FinCEN Issues Alert on Virtual Currency Scam
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“Pig Butchering”: FinCEN Issues Alert on Virtual Currency Scam

ByEyes on Trafficking News

On September 8, 2023, the Financial Crimes Enforcement Network (“FinCEN”) released an alert regarding a notorious virtual currency scam called “pig butchering,” because, unfortunately, it resembles the “fattening a hog before slaughter.” These scams are primarily perpetrated by criminal organizations in Southeast Asia where these scams are also called “Sha Zhu Pan.” The unwitting victims are the…

FinCEN Issues Alert on Prevalent Virtual Currency Investment Scam Commonly Known as “Pig Butchering”
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FinCEN Issues Alert on Prevalent Virtual Currency Investment Scam Commonly Known as “Pig Butchering”

ByEyes on Trafficking News

WASHINGTON—Today, the Financial Crimes Enforcement Network (FinCEN) issued an alert to highlight a prominent virtual currency investment scam known as “pig butchering.” Multiple U.S. law enforcement sources estimate victims in the United States have lost billions of dollars to these scams and other virtual currency investment frauds. “This scam has impacted far too many Americans,…

Experts Explain Driving Factors Behind Human Trafficking in the U.S.
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Experts Explain Driving Factors Behind Human Trafficking in the U.S.

ByEyes on Trafficking News

Human traffickers in the United States are making billions in annual profits, but money is not their only motive. Sometimes it’s the urge to sexually control and dominate women in spiritual communities. One way or the other, sexual assault is ingrained within human trafficking, experts say. Take illicit massage parlors – perhaps the most prevalent…