Stock Market Manipulation Using Cyberattacks Together with Misinformation Disseminated Through Social Media

Matti Mantere

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

2 Citations (Scopus)

Abstract

False information spread through online social media and various news outlets can cause significant fluctuations in equity markets around the world. This fluctuation is partially independent of the initial cause of the chain of events that lead to an inaccurate piece of information becoming a widespread rumor. In this paper a method for manipulating stock markets is presented together with a hypothetical case study. The method leverages the way that even unverified information spreads through social and other online media. This is done by intentional dissemination of a made-to-order rumor while simultaneously covertly launching cyber attacks as a catalyst to this process. The intention of this type of activity can is to affect the targeted equity markets for the financial gain of the perpetrators. Through a presentation of a hypothetical case study we argue that the method presented is a viable method for producing illicit gains for criminal groups, and some forms of it might already be in use by some actors
Original languageEnglish
Title of host publicationProceedings
Subtitle of host publicationInternational Conference on Social Computing, SocialCom 2013
PublisherIEEE Institute of Electrical and Electronic Engineers
Pages950 - 954
ISBN (Electronic)978-0-7695-5137-1
DOIs
Publication statusPublished - 2013
MoE publication typeNot Eligible
EventInternational Conference on Social Computing, SocialCom 2013 - Washington D.C., United States
Duration: 8 Sep 201314 Sep 2013

Conference

ConferenceInternational Conference on Social Computing, SocialCom 2013
Abbreviated titleSocialCom 2013
CountryUnited States
CityWashington D.C.
Period8/09/1314/09/13

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Keywords

  • Cyber security
  • misinformation
  • social media
  • stock market manipulation

Cite this

Mantere, M. (2013). Stock Market Manipulation Using Cyberattacks Together with Misinformation Disseminated Through Social Media. In Proceedings: International Conference on Social Computing, SocialCom 2013 (pp. 950 - 954). IEEE Institute of Electrical and Electronic Engineers . https://doi.org/10.1109/SocialCom.2013.149