TDCI: Learn to spot the red flags of ‘pig butchering’ romance scams
PRESS RELEASE FROM THE TENNESSEE DEPARTMENT OF COMMERCE & INSURANCE:
TDCI: Learn To Spot the Red Flags of Pig Butchering Romance Scams
Scammers Promise Long-Term Relationships in Order to Prey on Victims’ Trust
NASHVILLE — As Valentine’s Day (Feb. 14, 2026) quickly approaches, the Tennessee Department of Commerce & Insurance’s (TDCI) Securities Division is warning investors about the prevalence of an online romance scam known as “Pig Butchering” that creates broken hearts, stolen identities, and empty bank accounts.
Romance and “lonely hearts” scams are typically perpetuated by scammers seeking to turn quick profits before disappearing from their victims’ lives. A Pig Butchering scam, however, is perpetrated over a longer period of time than a typical scams and can create long term financial devastation in the lives of victims.
“Pig Butchering scammers create a false sense of trust and friendship all in an elaborate effort to rob their victims,” said TDCI Assistant Commissioner Elizabeth Bowling. “I encourage Tennesseans to protect themselves and their wallets by never accepting what a stranger says at face value, asking questions, being skeptical, and never sharing their personal or financial information with someone they don’t know.”
A Pig Butchering scam begins simply enough with the scam victims receiving a text message or voicemail from a “wrong number” that comes from a seemingly innocent person about a purported meeting or other social plan they may have.
When the potential victim responds, the perpetrator continues the conversation by being friendly in order to build a relationship with the victim. Eventually the conversations turn toward cryptocurrency and investing. The perpetrator then “fattens up” the victim over the ensuing months until eventually the victim is “butchered” for much, if not all, of his or her life savings.
To learn more about Pig Butchering scams, visit our blog post here.
To help fight Pig Butchering scams, TDCI encourages investors to learn how to spot the common red flags of these scams.
- Out of the blue text messages from a wrong number.
- Building a relationship over time with a stranger via phone or text.
- Encourages potential victim or victims to start investing in cryptocurrency.
- Quickly switches from one platform to another to avoid detection.
To report a Pig Butchering scam, contact your local law enforcement agency or FBI office.
How can you spot a romance scammer? A new blog post highlights the red flags of romance scams. Remember:
- While you may want to meet, the scammer refuses to meet you in person. While you might want to meet, the romance scammer will conveniently live outside the United States or work on an overseas project.
- Asking for money or encouraging you to make investments. Eventually, this person will ask for money or for you to make an “amazing” business opportunity. Sometimes it might be for a medical emergency. They may also ask you to send funds through a wire transfer or ask for your bank account details.
- You’re asked to pay an individual or firm that’s different than the one with which you thought you were investing. While you thought you were investing in a technology company, it’s really a nail salon or a foot massage business instead.
Questions about an investment? Contact TDCI’s Securities Division online at tn.gov/securities, by email securities.1@tn.gov, or call 800-863-9117.
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