Financial scams infiltrated social networks

When it comes to stock market manipulation, insider trading and other types of financial fraud, attackers use a variety of tools for stuffing information, as well as for communicating with accomplices. Email, faxes, voicemail, etc.

Can social networks be used for financial fraud, and how to do it most effectively? This question is asked by the magazine Fortune. They interviewed financial analysts and experts on this topic and received unequivocally affirmative answers. According to experts, the successful implementation of complex schemes using social networks, we will see this or next year.

The reason for this is quite logical, because more and more corporations are introducing standard services such as Facebook and Twitter into everyday use, and they are just perfect for stuffing information, providing it with instant distribution throughout the entire social network.
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For analysts, social networks are a very interesting challenge. Special software that analyzes content and detects information leaks via e-mail and ICQ is not so easy to set up for social networks, because communication is divided into separate replicas there, it goes through different channels, and it’s not easy to put individual fragments into conversations and reveal keywords in them.

Worse, in the largest corporations, boys and girls who have grown up on Facebook and similar technologies are now taking over the positions of top managers. According to experts, they are so well versed in these technologies that they are able to organize perfectly clean stuffing, so that no program can detect it.

via Fortune