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Pig butchering study: banks unprepared for “a whole new category of financial crime”

Updated as of: 04 August 2025

A study overseen by a former UK diplomat has found that financial institutions could be exposed to billions of dollars in potential losses from a surge in tech-enabled romance fraud known as “pig butchering”.

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Pig butchering study: banks unprepared for “a whole new category of financial crime”

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