Regulators warn of text message stock scams


Securities regulators are warning investors about a new twist on the “pump and dump” stock-fraud scam that uses text messaging on cell phones to tout stocks. The National Association of Securities Dealers, the brokerage industry’s self-policing organization, issued an “investor alert” Tuesday advising people to ignore such messages with “hot” stock tips on their cell phones. Regulators warn of text message stock scams - Security - MSNBC.com

Linked by shanmuga Tuesday, 13th December 2005 11:47PM