Illinois widow loses $1M life savings and is forced to sell her home after brutal ‘pig butchering’ scam — how to spot this scheme and protect your financial future

‘Pig butchering’ scams are on the rise

DeMask’s "online boyfriend" claimed to work on an oil rig. The first time he requested money, he told DeMask that he needed $20,000 to repair a rig.

"The second time, I sent $35,000,” she told reporters. “Then two weeks later, another $35,000. He [said his] pastor is sending him $250,000. Can I match it? Which was a dumb thing."

In total, DeMask sent the man more than $1 million via cashier’s checks and wire transfers. The man even told her he’d double her money in various investments under his name.

Now, she has to sell her home to pay back a home equity loan and taxes on the investments she withdrew. She told reporters she now only has $400 left to her name.

DeMask’s situation isn’t unique. With “pig butchering” scams on the rise, an increasing number of Americans are falling victim to fraudsters.

“In 2023, we saw well over $3.5 billion of reported losses, and over around 40,000 victims in the United States,” James Barnacle, of the FBI’s Financial Crimes Section, told NBC. “I’ve seen [individual] losses well into the $2-, $3-, $4 million.”

Here's how “pig butchering” scams work: you meet someone online or via text. Sometimes, scammers "accidentally" text the wrong number and then try to initiate a conversation.

They may claim that their assistant got the number wrong or say a colleague must have given them the wrong digits.

The scammer will then try to build trust, either via a romantic relationship or with an offer of a lucrative investment opportunity. They often come across as kind and charming.

Once trust has been built, they’ll start asking for money. Over time, the financial requests will start to increase in size until they have most, if not all, of their victims’ savings.

According to INTERPOL, the International Criminal Police Organization, many of these crimes typically originate in Southeast Asia and use human trafficking victims to carry out the scams.

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How to protect your assets from similar scams

According to the Federal Trade Commission (FTC), people between the ages of 60 to 69 were the second-most commonly targeted group by fraudsters, with 200,216 reports in 2022. The most commonly targeted age group are people between 30 and 39 years of age.

There are several ways to protect yourself from becoming a victim of fraud. Although it may sound obvious, don’t share personal or financial information with someone you don’t know.

Be wary of anyone you meet on a social app or online, especially if they want to move the conversation to another platform after your initial meeting. Scammers often try to move the conversation to WhatsApp, Signal, or Instagram to have a more private conversation.

Never send money to someone you've met online, especially if they originally messaged you "by mistake". Pay attention to the grammar and spelling. Due to the fact that many of these scams originate overseas, scammers frequently use awkward sentence structures or misspell words.

If you have older adults in your life, have a conversation with them about how to spot a scam. More often than not, scammers will target lonely people.

If you do happen to send money to someone before realizing it's a scam, contact the FBI’s Internet Crime Complaint Center (IC3) immediately.

As for DeMask, authorities were unable to recover her money. “A lot of [my] things are going to be gone and it's hard," she said.