The McCombs School of Business is pleased to invite you to an important event exploring the scourge of financial grooming schemes. Texas McCombs is hosting “Romance Investment Fraud: A Global-Scale Crypto Scam” as part of the International Organization of Securities Commissions’ (IOSCO) World Investor Week (WIW) 2024. McCombs Professor of Finance John M. Griffin will present groundbreaking research on “pig butchering” scams, revealing how fraudsters have stolen $75 billion globally, including $15 billion from Americans. This event will also feature a panel discussion with Melanie Devoe and Jorge Herrada of the Commodity Futures Trading Commission (CFTC) and Nicholas Berta of the Federal Bureau of Investigation (FBI), who will discuss regulatory and enforcement strategies to combat these scams.
Part of the burgeoning romance scam industry, pig butchering fraudsters build emotional connections with victims under false identities and entice them into sham crypto investments. They “fatten up” their victims with small, fake crypto earnings before disappearing with large sums of money. Worse yet, many of these scam operations are tied to international crime syndicates and human trafficking. This event will amplify the critical conversation around the latest crypto fraud research and the implications for financial regulators worldwide.
Event Details:
Title: Romance Investment Fraud: A Global-Scale Crypto Scam
Date: October 8, 2024
Time: 11:30 a.m.-12:30 p.m. CT
Location: Robert B. Rowling Hall, The University of Texas at Austin (In-person and Zoom options available)
Agenda:
- 11:30-11:35 a.m. CT: Introduction by Melanie Devoe, Director of the Office of Customer Education and Outreach, CFTC.
- 11:35 a.m.-noon CT: Presentation and Q&A by John M. Griffin, Professor of Finance, Texas McCombs.
- 12:05-12:30 p.m. CT: Panel discussion with Melanie Devoe, Nicholas Berta, Supervisory Special Agent for the FBI Economic Crimes Unit, and Jorge Herrada, Director of the CFTC’s Office of Technology Innovation.
Registration:
This event is free and open to the public and the UT community. However, registration is required for both in-person and Zoom attendance. Box lunches will be available to in-person attendees.
We look forward to your participation in this important discussion aimed at raising awareness about global financial fraud.