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How AI is Making “Pump and Dump” Investment Scams Easy for Criminals

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Manage episode 491085306 series 2170425
Content provided by AARP. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by AARP or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Karen is experienced in investing, but she hopes to boost her retirement savings by joining an investors group on WhatsApp. After a few months of receiving positive trading tips, she follows the advice to invest in several stocks in Asian markets. Her portfolio plummets, losing tens of thousands of dollars. Karen is the victim of a classic “pump and dump” scam: scammers buy a very cheap stock, persuade investors to buy by spreading deceptive claims, and then sell their shares once the price rises, leaving investors with a loss. Learn how AI and an army of bots are making this age-old scam easier for criminals.

  continue reading

280 episodes

Artwork
iconShare
 
Manage episode 491085306 series 2170425
Content provided by AARP. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by AARP or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Karen is experienced in investing, but she hopes to boost her retirement savings by joining an investors group on WhatsApp. After a few months of receiving positive trading tips, she follows the advice to invest in several stocks in Asian markets. Her portfolio plummets, losing tens of thousands of dollars. Karen is the victim of a classic “pump and dump” scam: scammers buy a very cheap stock, persuade investors to buy by spreading deceptive claims, and then sell their shares once the price rises, leaving investors with a loss. Learn how AI and an army of bots are making this age-old scam easier for criminals.

  continue reading

280 episodes

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