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Tuesday, June 20, 2006

Scam of the Week: Stock spam

Scam_of_the_week_logo_black_and_white_2The Scam: Stock spam
The Targets: Email users
The Hook
: These are spam emails touting penny stocks of actual companies, who may not even be aware of the spam. The idea is to get thousands of people to buy the stock, run up the price and the spammer cashes in ("pump and dump").
How to avoid being victimized: Many stock spam emails use mangled language to avoid spam filters: “This st0ck is rea4y to ro11!” They also often use inscrutable email names such as "bmqlrzt neofxb@imap2.asu.edu". Use common sense - would an investment-worthy firm write like this? SEC Cyberfraud Division

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