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 HrynchukSenior Editor at Scam Detector Media, Selma is a fraud prevention specialist with a wealth of experience in private investigations and collaborations with law enforcement. A captivating public speaker, Selma educates audiences about scams and personal safety. Through her insightful writing, she exposes criminals and shares essential tips for staying secure. Selma is a dedicated guardian against fraud, committed to unmasking deception and promoting integrity.