Techdirt is on holiday this Thursday and Friday. We'll be back with our regular posts on the weekend!Hide

Stock Spammers Look To Expand Service Aspect Of Their Business

from the poised-for-big-gains dept

It was hardly surprising when a recent study pointed out that stock spam was pretty good at the old pump-n-dump scam, as enough suckers buy stock based on the messages to instigate a quick rise in the shares of companies they advertise. While oftentimes it's simply just spammers trying to drive up prices for their own benefit, a security company says it's now caught wind of spammers trying to drum up business by offering their services to companies, charging 30% of whatever profits they make based on the spam campaign. Unsurprisingly, the spammers advertise via spam, and promise to double share prices and increase trading volume tenfold. Given that there are still plenty of people gullible enough to buy stocks based on these spam messages, it seems pretty likely the spammers will find plenty of companies willing to break the law and take them up on their services. Many people already look at penny stocks with a skeptical eye; this sort of news doesn't do much to help the credibility of companies trading over the counter.

Reader Comments (rss)

(Flattened / Threaded)

  1. identicon
    Anonymous Coward, Sep 5th, 2006 @ 9:05am

    If its really that bad

    Then I should be able to hire a spammer to inflate AMD's stock price, while secretly buying a bunch of intel stock when it gets lower, and that stock should jump in the days following as AMDs stock crashes... right?

    So where to drum up the funds to pay the spammer... Ooh, I'll just sell some music on MySpace that I didn't have a license to redistribute.

    reply to this | link to this | view in thread ]

  2. identicon
    mroonie, Sep 5th, 2006 @ 9:29am

    Spammers still going strong.....

    And it's because of us!!

    ...Lots of email certification companies have arisen due to the spam problem (such as Sender Score Certified). I heard even AOL is is going this route. But basically it means that people who want to send bulk email, but want to actually make it into people's inboxes will go through an application process where they get reviewed and then have to pay for this service. At first I was skeptical of this solution but if companies are really going to USE spammers to try to make a profit, I'm starting to think that maybe it isn't such a bad idea after all.

    But still, I can't help but think that this is a just a temporary solution and that the real problems lies in those who fall for such scams. Obviously spammers are still in "business" because people are still falling for this stuff. People need to be more accountable and start taking necessary action to protect themselves. It's' ridiculous to think that people are still falling for this stuff.

    reply to this | link to this | view in thread ]

  3. identicon
    Mantis108, Sep 5th, 2006 @ 9:46am

    Stock Spam Getting Through Cloudmark

    What makes this problem even worse is that the current crop of stock spam is using polymorphic JPG-based image spam messages, which have exposed holes in otherwise decent products such as Cloudmark. The server and client versions of Cloudmark don't catch these stock spam messages in time, and the company is apparently frantically running around trying to find a way to plug the hole. I used to get 2 spam messages a day with Cloudmark, and now I get those same 2 or 3 spam messages plus about 10-20 stock spam messages. These companies need to figure out a way to stop this, and soon.

    reply to this | link to this | view in thread ]

  4. identicon
    Anonymous Coward, Sep 5th, 2006 @ 10:17am

    Playing the market or going to the casio.....same thing; just a different payment transaction.

    reply to this | link to this | view in thread ]

  5. identicon
    Lay Person, Sep 5th, 2006 @ 10:43am

    Birth rate

    It's sort of like a birth rate.

    You have an X amount of newbie computer users constantly coming on the computing scene without any prior knowledge of anything related to spam or knowing very little or anything about computers.

    These newly born computer users whether they're 13 or 113 years of age are the targets of these spams. They only need a small percentage of takers to be hooked by the spam.

    This is what the spammers are after.

    reply to this | link to this | view in thread ]

  6. identicon
    Just Thinking Ahead, Sep 5th, 2006 @ 10:46am

    Re: Stock Spam Getting Through Cloudmark

    As soon as "These companies need to figure out a way to stop this, and soon." the Spammers will jump ahead to their next plan. They are always leading in this technology. Why don't we just admit it and learn you to use a delete button.

    reply to this | link to this | view in thread ]

  7. identicon
    Joshua, Sep 5th, 2006 @ 11:58am

    Interesting that I only got it just that one day. None since the 28th. I posted a copy of the exact email. If you want to read it visit here

    reply to this | link to this | view in thread ]

  8. identicon
    Anonymous Coward, Sep 5th, 2006 @ 12:18pm

    Who are these losers?

    For all those people actually reading spammed stock tips, I have a fantastic deal on penis enlargement pills. Wholesale prices on volume orders.

    reply to this | link to this | view in thread ]

  9. identicon
    Common Sense, Sep 5th, 2006 @ 12:38pm

    Re: Stock Spam Getting Through Cloudmark

    Because the "just hit delete" solution is not a solution at all. How does hitting the delete button stop all the damage that spam causes from being done?

    reply to this | link to this | view in thread ]

  10. identicon
    Jim, Sep 5th, 2006 @ 12:42pm

    My Boss

    My boss got one of these emails and asked me if we could just bypass the spammers and their fees and just send out a mass mailing from our own servers.

    I had to explain how doing such things is illegal on multiple levels and then shook my head and wondered why the morons are always in charge of companies.

    reply to this | link to this | view in thread ]

  11. identicon
    Wondering, Nov 30th, 2006 @ 3:08pm

    Why Not

    Why not use a program like Mailwasher or something like that? It allows you to bounce unwanted spam back to the origional sender as if the address it was sent to was bad.
    Spammers will not continue to send spam to addresses that bounce. It's a waste of their time and time is money.

    reply to this | link to this | view in thread ]

Add Your Comment

Have a Techdirt Account? Sign in now. Want one? Register here
Get Techdirt’s Daily Email
Save me a cookie
  • Note: A CRLF will be replaced by a break tag (<br>), all other allowable HTML will remain intact
  • Allowed HTML Tags: <b> <i> <a> <em> <br> <strong> <blockquote> <hr> <tt>
Follow Techdirt
Insider Shop - Show Your Support!

Hide this ad »
Essential Reading
Techdirt Deals
Techdirt Insider Chat
Techdirt Reading List
Hide this ad »
Recent Stories
Hide this ad »


Email This

This feature is only available to registered users. Register or sign in to use it.