Microsoft declared war on stock scams via email

Hoping to help partially resolve stock fraud, Microsoft has filed a lawsuit against three people who use its free Hotmail email service to commit fraud to push stock prices up.

According to the lawsuit filed with the Seattle County Supreme Court in Seattle, Microsoft said the Hotmail service received a huge amount of spam with content encouraging companies to buy shares like Distributed. Power, TGC Ventures, China Biolife Enterprises and Irwin Resources.

Microsoft accused those subjects of violating CAN-SPAM Law and Washington State Consumer Protection Law. The software company did not disclose the amount of compensation in this lawsuit.

Email scam (Pump-and-dump e-mail scam) is an online scam. Scammers will go buy a stock of a certain company at a very cheap price and then use spam to spread fake information that encourages buying shares of that company to push up the stock price to bring profit for them.

Craig Schmugar, an expert with security firm McAfee, said it was a form of online fraud via email that was growing very fast in just a few months because it was simply effective. high contrast.

Microsoft claims that email stock fraud doesn't take up resources or affect Hotmail's functions, but it has caused Microsoft a lot of damage.

Microsoft officials have no official comment on this information.

Microsoft's latest move is also a clear proof for the "cat-chasing" game between technology firms and spammers.

This online scam is usually highly effective, so it has attracted many interested people to constantly invent new spamming methods.

Hoang Dung