Online scams have become more sophisticated, and victims of exploit are losing their life savings. One such type is the “pig butchering” crypto scam where victims get wooed for months before being fleeced. Observer journalist Shanti Das investigates in this episode of Today in Focus with Niamh McIntyre of the Bureau of Investigative Journalism.

Criminal gangs exploit trafficking victims

How do these scams work, who are the culprits, and how do they manage to evade legal consequences? Das reveals that criminal gangs in China exploit trafficking victims to defraud people globally and has found out that more than 150 fake UK firms have been set up to allay suspicions of victims.

Fake UK firms allay suspicions of victims

The scam’s impact on the UK is not apparent in the article, but it serves as a reminder to everyone to exercise caution when investing in cryptocurrency or engaging unfamiliar acquaintances. Online platforms and virtual wallets are vulnerable to fraudulent activities, and the UK government should find ways to improve regulations to prevent these scams from flourishing.

Read More Here https://www.theguardian.com/news/audio/2023/feb/01/the-scammers-forced-to-steal-peoples-life-savings-podcast

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