Recovering from Online Scams: Practical Steps to Reclaim Financial Security

Introduction to a Disturbing Scam Trend:

• A tragic story of a person losing their life savings ($272,000) to an online scam.
• Increasing cases of “Pig Butchering” scams across the country, involving targeted financial manipulation.

Sophisticated Tactics of Scammers:

• Victims are often intelligent, experienced individuals.
• Scammers carefully craft messages on platforms like WhatsApp and Telegram.
• They exploit emotions like greed, guilt, and fear, using highly refined psychological tactics.
• No one should feel ashamed if they fall victim—these scams are expertly designed.

Tips to Avoid Becoming a Victim:

• Never send money without thoroughly verifying the recipient.
• Confirm credentials such as license numbers or SEC registration if the person claims to be a financial advisor or affiliated with a bank.
• Be cautious of investment offers that seem suspicious or come with high-pressure tactics.

Do Scammers Ever Get Caught?

• Yes, many scammers face legal repercussions.
• Case example: David Kagel, an alleged scammer, was ordered to pay $14 million in restitution for running a fraudulent scheme.
• Government and financial institutions actively pursue and hold scammers accountable.

Resources for Scam Victims:

• Visit activeintel.com for a guide on fraud claim processes.
• Steps for filing a fraud report with agencies like the SEC, FBI, and IC3.
• Information on how to initiate an investigation for fund recovery.

Further Assistance:

• Access live, one-on-one consultations with licensed experts for personalized advice.
• Explore our channel for additional videos on fraud prevention, scam detection, and recovery solutions.

What is The Expert Podcast?

The Expert Podcast brings you firsthand narratives from experts across diverse industries, including private investigators, general contractors and builders, insurance agencies, vehicle specialists, lawyers, and many others.

Here’s another tragic story about a person who lost a large amount of money to an online scam. These "pig butchering" scams are becoming rampant around the country, and this person lost his life savings—$272,000. He calls it financial assault. We’ll talk a little bit about how these scammers are getting caught later in the video. But first, consider the fact that these victims are often pretty sophisticated individuals. They’re not stupid or uninformed about what they’re doing.

The scammers know exactly what to say, how to craft their emails and text messages. A lot of times, they use WhatsApp or Telegram instead of normal channels. They prey on people’s emotions, whether it’s greed for higher returns, guilt, threats, or other tactics. Their psychological approach is very sophisticated, so don’t feel bad if you’ve fallen victim. Also, if you’re concerned about someone in your family or even yourself becoming a victim, make sure you don’t send any money to any suspicious sources. Be very cautious.

These scammers make their messages seem legitimate, so don’t send money for any investment without verifying the person’s identity. You want to ensure you have license numbers, their registration with the Securities and Exchange Commission if they’re an investment adviser, or bank credentials if applicable. Don’t just take their word for any corporate number or other details; verify each piece of information independently.

The other question we get a lot is whether these scammers get caught. Here’s a perfect example: there’s a crypto scammer named David Kagel who was allegedly ordered to pay $14 million for running one of these schemes. Scammers like this do get caught. They’re investigated all the time and are often discovered and busted by the government or financial institutions. In cases like Kagel’s, they’re ordered to pay restitution and give the money back. Interestingly, he was 86 years old—scammers come in all types, but they know exactly how to push your buttons to make you send money.

If you’ve become a victim, be sure to check out our website, activeintel.com. We provide all the instructions for proceeding with a fraud claim, as well as where to file it with the SEC, FBI, or IC3 to get onto the victim’s list. We also outline steps you can take to begin investigating if you’re seeking recovery of lost funds.

If you found this video helpful, click on other videos on our channel for more insights that may assist in resolving your situation.