Symantec Corp. SYMC +3.51% today announced the results of the August 2011 Symantec Intelligence Report, now combining the best research and analysis from the Symantec.cloud MessageLabs Intelligence Report and the Symantec State of Spam & Phishing Report. This month's analysis reveals that once more spammers are seeking to benefit from fluctuations in the turbulent financial markets, most notably by sending large volumes of spam relating to certain "pink sheets" stocks in an attempt to "pump" the value of these stocks before "dumping" them at a profit.
Click to Tweet: Turbulent markets drive "pump-and-dump" stock scams says August 2011 Symantec Intelligence Report: http://bit.ly/owDLp0
In a pump-and-dump stock scam, spammers promote certain stocks in order to inflate the price as much as possible so that they may then be sold before their valuation crashes back to reality. The spam for these scams tries to convince the prospective mark that the penny stock is actually worth more than its valuation, or that it will soon skyrocket. Most of these claims are either misleading or false.
Link: http://bit.ly/pSPBaL
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