A pig butchering scam is a type of fraud that targets small businesses, particularly those that are unfamiliar with the legal requirements of running a business. The scam involves a person posing as a legitimate pig butcher and offering to purchase large quantities of pork products from the business at an attractive price. The scammer then instructs the business to pay for the product in advance, usually via wire transfer, but does not deliver the product. In some cases, the scammer may provide the business with a forged invoice or contract to make the transaction appear legitimate. The scammer may also offer to purchase additional products if the business pays a certain amount upfront. Unfortunately, these additional products never arrive, and the business is left with no product and out of pocket. This type of fraud is particularly difficult to detect, as the scammer typically uses real companies and products to make the transaction appear legitimate.
The scammer may also use an official looking letterhead or website to make the transaction appear official. Businesses should be wary of any requests for payment in advance, especially if they have not previously done business with the company. Businesses should also be aware that the scammer may attempt to use their contact information to target other businesses. For example, the scammer may use the business’ contact details to contact other businesses offering the same products at an attractive price. Businesses should also be aware of any requests for personal or financial information, such as bank account numbers or credit card information. If a business is asked to provide such information, it should contact the company directly to verify the legitimacy of the request. Finally, businesses should always contact their local law enforcement to report any suspected fraud. By reporting the fraud, the business may be able to help protect other businesses from falling victim to the same scam.