Deniz 
Through new alliances, the Office of Customer Outreach and Education (OCEO) of the Commodity Futures Trading Commission (CFTC) seeks to provide focused information regarding crypto currency investment scams.
A CFTC announcement states that the American Bankers Association Foundation, a “private regulator,” and other federal agencies are collaborating with the OCEO to design and distribute an infographic helping viewers identify and avoid “pig butchering” schemes. The OCEO is also working with other groups, including the Office of Investor Education and Advocacy of the U.S. Security and Exchange Commission, to create an investor alert concerning pig slaughtering frauds.
“Partnering with federal and state regulators as well as consumer protection groups and other organizations helps spread the CFTC’s customer education message and hopefully reaches people before they can get scammed. These partnerships focus on a relationship confidence fraud the perpetrators commonly refer to as ‘pig butchering,’ that is estimated to cost Americans billions each year,” said Melanie Devoe, Director of Customer Education and Outreach.
In the past year, pig butchering frauds have progressively supplanted Ponzi schemes as thieves seek more focused targets to maximize benefits.
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