‘Pig butchering scam’ targeting unemployed youths, housewives, students, says MHA report
New Delhi: In a concerning development highlighted in the Union home ministry’s latest annual report, a sophisticated cyber fraud known as the “pig butchering scam” is increasingly targeting vulnerable segments of Indian society, including unemployed youth, housewives, students, and financially distressed individuals.
The scam, which originated in China in 2016, involves cybercriminals building trust with victims over time before convincing them to invest in cryptocurrency or other seemingly lucrative schemes. The term “pig butchering” derives from the practice of metaphorically “fattening up” victims before stealing their money.
According to the report, criminals are exploiting major tech platforms to perpetrate these frauds. Google’s advertising platform has been identified as a key tool used for cross-border targeted advertising. In response, the Indian Cyber Crime Coordination Centre (I4C) has established a partnership with Google to share threat intelligence for swift action.
Social media platforms have emerged as primary vectors for these scams. WhatsApp leads with 14,746 cybercrime complaints, followed by Telegram (7,651), Instagram (7,152), Facebook (7,051), and YouTube (1,135) through March 2024. Criminals are also using sponsored Facebook posts to promote illegal lending applications in India.
To combat these threats, the ministry has implemented several initiatives.
The Cyber Volunteer Framework, which had registered 54,833 volunteers by March 2024, enables citizens to report unlawful online content and assist law enforcement. Additionally, the Citizen Financial Cyber Frauds Reporting and Management System (CFCFRMS) coordinates responses between law enforcement, banks, and financial intermediaries.
The CFCFRMS platform has shown promising results since its launch in April 2021, preventing over Rs 16 billion from reaching fraudsters and helping more than 575,000 victims.
The system works by quickly intercepting fraudulent transactions and facilitating the return of seized funds to victims through legal channels. The National Cybercrime Threat Analytical Unit continues to analyse complaints and share trending cyber threats with stakeholders, enabling preventive measures across various digital platforms and services.
