Once I read about a rather unusual fraud scheme. In essence, some 1000 random people would receive letters, 500 of which claimed, that stock A would go up, and the other 500 that it would go down during the next NY Stock Exchange trading day - all based on their new ground braking prediction models or insider information. Well, it is not hard to realize, that at least half of the predictions were correct!

Now, the smart guys would send letters only to those, who got the right forecast in the first round. This time it would be a stock B, on which they wrote something similar, also splitting 50/50 between up and down. And again, in half of the cases they would definitely be correct! So, there would be around 250 guys who had a couple of absolutely correct predictions, delivered to them free of charge, and some of them began to wonder, whether more should be expected.

And indeed, promises for more cool trading tips were given, this time in return for a symbolic sum of $100 or whatever. So, just by sending a few letters and spending so much on stamps, the gentlemen behind the letters could collect rather nice amounts of money from gullible of the world without much perspiration.

It is interesting to note, that recently a considerable percentage of the spam I receive talks about some investment tips - I suspect this is the same scheme, this time delivered via Internet, on much larger scale and with considerably smaller transaction costs.

A recent article from BBC tells us that some people don't bother to do all this complicated stuff and simply sell nonexistent shares or extraordinary overpriced ones.

Tags: computers
Categories: None |

5 comments have been posted.

    June 5, 2007, 6:39 p.m. - Working Capital  
    The activities of a small number of people are becoming a bigger problem for the Internet. It’s useful to know that many of the same rules that apply to other forms of advertising apply to electronic marketing and advertising on the Internet too, as the law comes first to protect you. On the other hand you can take advantage of the anti-spam programs to make your own experience on the Internet better and to help fight spam to keep the Internet useful for everyone.
    Reply
    March 30, 2007, 10:20 p.m. - Alexey  
    Where does one find this mystical SPAM there so much buzz about? I use GMail and I never receive SPAM - what do I do to get some just to see what it is???
    Reply
    March 31, 2007, 8:14 a.m. - Andre  
    You lucky lucky thing :-) Right now I have 49 junk letters in my Spam folder - and that's since yesterday! I guess I get it because I write to a lot of people, and some of them get infected with viruses, which eventually steal all their address books - and here we go...
    Reply
    April 1, 2007, 4:19 p.m. - Alexey  
    I get about 12-15 SPAM emails a day on average. I used SpamBayes POP3 filter before and Google now and I was never bothered by SPAM too much.
    Reply
    April 1, 2007, 5:33 p.m. - Andre  
    The filters work for me as well, but still - the sheer amount of garbage, sent out over the Internet. Also recently some spammers manage to write messages in a clever way, which allows them to pass the filters.
    Reply
Your email: we will send you a confirmation link to this address to confirm your identity and to prevent robot posting
Get in touch
»...«
Join notification list

Join the email list to get notified about new posts and other updates

Follow updates

Join our social networks and RSS feed to keep up to date with latest news and publications