ALBANY, NY — New York Attorney General Letitia James issued a consumer alert warning New Yorkers of increasingly common online scams involving fraudsters using dating apps, social media, and unsolicited text messages to befriend victims and then manipulate them into making fraudulent investments.

These online romance scams, also known as “pig butchering,” involve scammers gaining their victims’ trust before taking their money. The Attorney General’s Office encourages New Yorkers to report any scams to the dating or social media app involved and to law enforcement.

Pig butchering schemes typically target victims on dating websites, apps, social media, and unsolicited text messages. The scammers spend significant time convincing victims of a close personal relationship and then shift the conversation to trading or investment opportunities. After building trust, the scammers introduce victims to investment opportunities, often in cryptocurrency or foreign currencies. Victims see their account balances increase on purported online statements or investment platforms, leading them to invest more funds. However, after depositing substantial sums of money, they are unable to withdraw their funds, and the scammers cut off contact.

Anyone who may have been a victim of this type of scam may file a complaint online or by calling 1-800-771-7755. Identifying information provided to the Attorney General’s Office will be safeguarded, James said.