Pig Butchering Scams: How Not to Be the Next Victim

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They fatten you up with trust, charm, and promises—then they take everything. “Pig butchering” scams are exploding worldwide, targeting vulnerable investors and draining life savings with ruthless precision. In this episode, we expose how these cons work, why even smart people fall for them, and what you must do to protect yourself. No fluff, no fees—just real talk and real help. Before you wire that money or click that link, listen up. One call could save you everything.

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Stopping the pig butchering scams and much much more. What
is pig butchering? Well, in essences, you're the pig. You're
the pig, and you're going to get butchered. And what
they do is they fatten you up. Yeah, yeah, he
was all sorts of con artists. There's all sorts of
ways to gain your affections and your trust and slowly

(00:36):
but surely fatten you up where they really will take you.
They call it pig butcher Now, it's been around for
a long time. Story in the Wall Street Journal talking
about should banks do more to fight pig butchering and
in these cases senior citizens wiring money to far away

(00:57):
places on the far East and also to Israel and
where most of these pig butchering scams resided. And I'm
gonna be honest with you, banks got a real difficult time,
real difficult time trying to discern those transactions and go

(01:18):
through it, piece by piece, blockply bye again. It's almost
kind of a mission impossible type of a situation. There's
been a lot of lawsuits that have been filed against
banks saying that they should have known, they should have
known that who they were sending this money to, that
they were crooks. Okay, I'm going to be give a
little bit of tough love right here and now. At

(01:41):
some point in time in life, you have to own it.

Speaker 1 (01:46):
You.

Speaker 2 (01:47):
The sign of an adult, and I've explained this before,
is someone that takes responsibility for everything good and bad.
Don't look to place blame. Don't want to say, hey,
I got ripped off, I got scanned that this person
took No. No, you say yourself, I should have known better.
What do we say every single week on our programs,

(02:10):
Everything in life that has meaning, value and worth involves work,
time and effort. Just that simple and listen. I know
that these are some these are some savvy salespeople out there,
and they're going to promise you the sun, the moon,
and the stars. They use what do we tell you,
greed and fear. Greed and fear to sell their wares

(02:31):
and get you to send them money. All it takes
Is this a simple phone call? Go to our website
watch dog on Wall Street dot com. Call us, send
me an email, send me a text. You go to
the front of the list. Do you understand all the
people that contact us over the course of the week.

(02:51):
We prioritize the people that are inquiring about a certain
investment and whether or not it's a ripoff scam. We
act on that immediately, and we're here to help you.
We can tell you not fur fee, not for anything.
This is what we do. We'll tell you whether or

(03:13):
not that, whether that nice young gentleman with the accent
that sounded so smart with his cryptocurrency trading, you know whatever.
We'll tell you whether or not they are legitimate. Now
it's up to you to decide whether or not you're
going to listen to us. It's on you. I got
no control over that, and I'm gonna be honest with you.

(03:35):
I think probably most people don't. I think sometimes people
call us up and I mentioned this before, to try
to justify what they're doing. They want to get not
even a second opinion, They want to pat on the back.
I'm going to say this again. We have given out
countless warnings to people over the countless queen thousands. This

(04:00):
is a scam. But whatever it may be, there hasn't
been one time. There's been one time we've warned somebody
against something that they've called back and said, Chris, you
were wrong. Chris, you're wrong. The thing that you told me,
the thing you told me not to invest in. I
invested in. I made a fortune.

Speaker 3 (04:15):
You were wrong.

Speaker 2 (04:16):
Not one time again. We're here to help you. There's
a lot of crooks out there, you know. They estimate
that there's anywhere.

Speaker 3 (04:28):
Between five to ten thousand boiler room stock scam trading
scam operations in Tel Aviv, Israel, right now. Five to
ten thousand of those Jordan Belfort esque type of firms.

Speaker 2 (04:48):
Calling people all over the world trying to take their money.
And obviously they're doing okay, they must be doing well.
For crying outloud, there's ten thousand them. Don't be a victim,
don't You don't have to be. You don't have to be.
That's what we're here for. Go to our website, give

(05:11):
us a call. We're here to help. Watchdog on Wall
Street dot Com