Pig butchering, which is Chinese criminal slang, accounts for over 500 billion dollars stolen a year from victims all around the world. The name is derived from the process itself as the scammers build a sty (scamming center), pick the pig (find a target), raise the pig (gain trust), cut the pig (get their money), and finally butcher the pig (take every last drop of money). This is a fast growing industry that is only going to get more complex with the use of AI. In Singapore, scams have become the most common felony, while Cambodia and Myanmar employ nearly 250,000 scammer alone. Some estimates have the worldwide total of workers in the industry at 1.5 million.
Online scamming is being compared to the illegal drug industry, only that its scope is much larger and its operators are much harder to track down. People from all walks of life are possible victims as scammers prey on anyone who has wealth, is lonely, or innocent. Unlike narco states, scam states are much harder to deal with as corruption runs rampant. In many cases, profits from the scam states are used to buy protection from politicians and officials. Forming underground gig economies, scam groups are illusive and often unidentifiable.
As the United States and China continue to be in a constant state of disagreement about everything, including the modern era space race that is artificial intelligence. However, this seems like a better time than any to link forces to fight this war. Deep-fakes, voice impersonation and much more are just the tip of the iceberg when it comes to the future of the internet. China has taken some efforts to curb the problem, but they cannot achieve the end goal alone. The United States has an aging population that is subject to scams just like this, so they need no more incentives to set aside their differences, and move together towards a common good.
https://www.economist.com/leaders/2025/02/06/the-vast-and-sophisticated-global-enterprise-that-is-scam-inc
5 comments:
Wow! I knew that scamming was a massive issue all over the world, but I did not realize it was on this large of scale. You are right with the fact with our technological advancements ramping up everyday there is a chance that it becomes much more difficult to stop the "pig butchering".
Title hooked me I had no idea what pig butchering is. One of the things that makes me very sad about this is that it effects old people more than anyone else.
I did not know what Pig Butchering was until I read your article. Now I am curious if the forensic accountant from the BCI we met yesterday has encountered these types of crimes. Given the complexity of these scams, I suspect there's likely a shortage of professionals with the specialized skills and expertise needed to effectively trace and investigate these complex financial transactions.
I find it alarming that online scamming has grown into a global industry comparable to the illegal drug trade, especially with AI making it even more sophisticated. How can international cooperation be effectively achieved when some governments may have conflicting interests or even benefit from these scams?
I am not sure the can. In regards to the US government, people do not want further restriction. So, this ever growing online scamming industry is going to keep going and progressing as technology advances.
Post a Comment