TechFlow news, according to The Block, the Office of Customer Education and Outreach (OCEO) of the U.S. Commodity Futures Trading Commission (CFTC) has announced partnerships with multiple organizations to launch an information campaign targeting romance investment scams in cryptocurrency—commonly known as "pig-butchering" schemes. Partnering organizations include the American Bankers Association Foundation, a private regulatory body, and other federal agencies.
According to the CFTC announcement, OCEO will collaborate with its partners to produce and distribute infographics designed to help the public identify and avoid "pig-butchering" scams. Additionally, OCEO is working with entities such as the Securities and Exchange Commission's (SEC) Office of Investor Education and Advocacy to develop investor alerts focused on "pig-butchering" fraud. Melanie Devoe, Director of OCEO, stated that collaboration with federal and state regulators, consumer protection organizations, and others helps disseminate CFTC’s customer education messages, potentially warning the public before they fall victim to scams. These partnerships focus on combating "pig-butchering" relationship-based trust fraud, which is estimated to cost Americans billions of dollars annually.
