Crypto Investment Scams: How Banks Can Disrupt These Criminal Operations

Cryptocurrency investment scams—also known as “pig butchering” scams—have evolved into large-scale criminal operations often run out of organized scam compounds that rely on forced labor. These scams exploit emotional vulnerabilities to manipulate unsuspecting victims into moving their money into fake cryptocurrency platforms. Governments around the world have begun disrupting these networks through arrests, sanctions, cross-border enforcement actions, and coordination with private organizations. But more needs to be done. 

This report examines the scale of global cryptocurrency investment schemes and details efforts to disrupt scam operations. It further explains the role banks can play in combatting these scams.