Scammers send millions of e-mails at once, offering a very hot tip in the stock market. They give the name of a small company, whose shares are worth a few cents per piece, and they guarantee that the prices will sky-rocket in the next few days.
What they do is buy millions of shares in this company before they send the e-mail. After the recipients of the e-mail “take advantage” of the tip and buy the shares – automatically raising the value – the scammers sell all their shares at the highest point, which means the market then collapses, leaving the victims with all their hopes crashed.
How to avoid:
Don’t pay attention to any unsolicited investment advice.
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Selma HrynchukSelma is a fraud prevention specialist renowned for her expertise in private eye investigations and a remarkable partnership with law enforcement agencies. Beyond her investigative triumphs, her public speaking engagements and written works have empowered countless individuals to protect themselves and stay ahead of deceptive schemes. Selma's legacy shines as a tenacious agent of change, unyielding in her commitment to battling fraud and ensuring a safer world for all.