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
ANALYSIS Will Donald Trump go to prison? What the precedent says
Now that the jury in Donald Trump's criminal trial has made the historic decision to convict him, the judge overseeing the case will soon face a monumental choice: whether to sentence the 2024 Republican presidential candidate to time behind bars.
A pair enjoyed pricey meals and bolted when it was time to pay. Their dine and dash ended in jail
A Welsh couple who dined out on pricey meals and bolted when the bill came is now paying the price, behind bars.
The northern lights are returning to night skies across Canada this Friday
If you missed the brilliant displays of the aurora borealis over North America on May 10, you may have another chance to see them on Friday night.
Montreal tech billionaire charged with several sex offences
Robert Miller was charged Thursday with several sexual assault charges after Montreal police reopened an investigation into the tech billionaire.
Can Trump come to Canada now that he's a convicted felon?
A Canadian immigration lawyer says now that Donald Trump is a convicted felon, he is technically barred from crossing the border into Canada.
Liberal government's own polling said Canadians worried about drug decriminalization
Months before British Columbia sought to scale back its drug decriminalization pilot project, the federal government's own polling suggested to officials that a majority of Canadians believed the policy would lead to an increase in overdoses.
Loblaw testing out small-format No Frills grocery stores
Loblaw is testing smaller-format discount stores across the country this year as shoppers increasingly look for ways to save on their grocery bill.
Doomsday plot: Jury convicts Idaho man of killing wife and girlfriend's 2 children
An Idaho man was convicted Thursday of killing his wife and his new girlfriend's two youngest kids in a strange triple murder case that included claims of apocalyptic prophesies, zombie children and illicit affairs.
'Why didn't they stop?' Mom asks of driver in hit-and-run crash that killed son
The mother of a 13-year-old boy who was killed in a hit-and-run in Edmonton is begging the driver to come forward.