Hong Kong police struggle to stop brokerage hacking spree

By Michelle Price HONG KONG (Reuters) – Hong Kong police are struggling to deal with digital pump-and-dump schemes targeting brokerages – a little-known type of computer-generated fraud that surged in the Chinese territory last year. In the scheme, criminals invest in thinly traded penny stocks and then manipulate their share prices by ordering trades from hacked brokerage accounts. After last year's cyber-heist of $81 million at Bangladesh's central bank and a series of hacks of ATM's around the world, authorities fear such pump-and-dump schemes could be increasingly used for electronic theft.

Original story here.

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