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E-mail spammers target share tips in latest scam

Submitted by Karthik on 19 April, 2004 - 20:41

Forbes is carrying an article on a new market for spammers - 'marketing' stocks. The messages tip the recipient that a stock - 'ABCD', is very likely to rebound shortly - even with a 5% success rate, an under-performing stock might see a dramatic turn-around.

While stock-related spam ranks well below the torrent of unsolicited offers for sexual aids and pornography, the volume has increased dramatically from six months ago when the phenomenon first caught the attention of security professionals.

"The spammers are looking at a new angle to cash in. And it's financial services," said Alyn Hockey, director of research at the UK-based ClearSwift.

Let's hope that this prompts better legislation against spam..