Don't Buy In to Indian Stock Scam
A new batch of spam is circulating around the Web trying to trick people into investing in an Indian stock.
With titles including, Indian shares with 800.% gain potential, and Best indian [sic] stock on the nse market, the messages claim that the stock (for the unnamed company) is going to go up minimum 500% this week on possible news of a buy out and/or partnership with an american [sic] outsourcing company.
Reported by Symantec researcher Mayur Kulkarni, this spam tactic is called a Pump and Dump campaign, a type of stock fraud that attempts to secure a large amount of investors to drastically (and temporarily) raise the stock price so that those sending the spam messages can sell off their shares and leave the investors at a loss.
Kulkarni warns people to be wary of unsolicited emails.
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