Residents of this B.C. city lost more than $16M to 'pig butchering' scams last year, RCMP say
Since the start of 2023, residents of Richmond, B.C., have lost more than $16 million to "sophisticated online scams combining romance and investment schemes," according to local Mounties.
Richmond RCMP shared a warning about such scams Tuesday, saying the detachment received 87 reports of such scams last year, with losses totalling $16.17 million.
That works out to an average of more than $185,800 lost per scam.
So far in 2024, Richmond RCMP have received 12 further reports of these types of scams, with reported losses totalling $477,820, or more than $39,800 per incident.
"Due to the nature of these scams, it is believed that the actual number of victims may be higher, as cases may go unreported due to embarrassment or fear," Mounties said in their statement.
'Pig butchering'
Police said the perpetrators of these scams typically spend weeks or months "grooming" their victims, often beginning their interaction "under the guise of a mistaken identity."
Victims are often targeted through "dating websites, social media and even text messages," according to RCMP.
"Over time, scammers, using fake yet compelling profiles, build a relationship with their targets, eventually convincing them to invest in fraudulent opportunities," the statement reads.
"This method, commonly referred to as pig butchering, sees victims being fattened with false promises of profit, only to be financially slaughtered when they are left with nothing."
Police said scammers sometimes "show false returns on small initial investments" to convince their targets to "invest" more.
$15 million lost in Surrey
The Richmond RCMP is not the first Lower Mainland detachment to sound the alarm about multimillion-dollar losses to these types of scams over the last 15 months.
Earlier in March, Surrey Mounties shared their own warning about scams involving fake investment websites and fake profits, usually involving cryptocurrency, with victims often targeted through social media, dating platforms and phone calls.
Surrey RCMP said it had received 229 reports of such scams in 2023 and a further 50 in the first two months of this year, with losses totalling more than $15 million over that time.
The average loss in the Surrey cases works out to more than $53,700.
Advice to protect yourself
Richmond RCMP warned residents to "exercise caution online."
"Be skeptical of unsolicited contacts, especially from overly attractive profiles or strangers professing romantic interest," the detachment's statement reads.
"Never send money or share financial information with someone you’ve not met in person."
Mounties also recommended seeking advice from trusted independent sources before making any investments, especially those involving cryptocurrency.
Richmond residents who suspect they've been victims of this type of scam should "preserve all communication and transaction records" and "immediately" notify their bank, the Canadian Anti-Fraud Centre and the Richmond RCMP, police said. The detachment's non-emergency phone number is 604-278-1212.
CTVNews.ca Top Stories
NEW Biscuits with possible plastic pieces, metal found in ground pork: Here are the recalls for this week
Here are the latest recalls Canadians should watch out for, according to Health Canada and the Canadian Food Inspection Agency.
More than half of Canadians say freedom of speech is under threat, new poll suggests
A new poll suggests a majority of Canadians feel their right to freedom of speech is in danger.
Britney Spears 'home and safe' after paramedics responded to an incident at the Chateau Marmont, source tells CNN
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
Police move in to clear NYU encampment, U.S. campus arrests grow to 2,200 in pro-Palestinian protests
Police moved in to clear an encampment at New York University on Friday at the request of school officials, a move that follows weeks of pro-Palestinian protests at college campuses nationwide that have resulted in nearly 2,200 arrests by police.
Feds giving Toronto more than $104M to host 2026 FIFA World Cup
The federal government will provide Toronto just over $104 million in funding to host the 2026 FIFA World Cup.
Wally, the emotional support alligator once denied entry to a baseball game, is missing
Emotional support animal registrations in the United States reached 115,832 last year, by an industry group’s count. But in the eyes of reptile rescuer Joie Henney, there’s only one: 'Wally Gator.'
Parents of infant who died in wrong-way crash on Ontario's Hwy. 401 were in same vehicle
Ontario’s Special Investigations Unit has released new details about a wrong-way collision in Whitby on Monday night that claimed the lives of four people.
Drew Barrymore explains how she accidentally left a list of her romantic partners at Danny DeVito's house
Danny DeVito had the opportunity to know way more about Drew Barrymore than the rest of us.
'Bare-adise' adventure: This nude cruise is due to set sail from Miami in 2025
What do you need to pack for a cruise? When it comes to this upcoming cruise from tour and travel company Bare Necessities, the answer appears to be very little.