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
PublisherInstitute of Electrical and Electronic Engineers IEEE
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

Fingerprint

Launching
Catalysts
Financial markets

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). Institute of Electrical and Electronic Engineers IEEE. https://doi.org/10.1109/SocialCom.2013.149
Mantere, Matti. / Stock Market Manipulation Using Cyberattacks Together with Misinformation Disseminated Through Social Media. Proceedings: International Conference on Social Computing, SocialCom 2013. Institute of Electrical and Electronic Engineers IEEE, 2013. pp. 950 - 954
@inproceedings{752446a731474af58526cf2d83d8bef7,
title = "Stock Market Manipulation Using Cyberattacks Together with Misinformation Disseminated Through Social Media",
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",
keywords = "Cyber security, misinformation, social media, stock market manipulation",
author = "Matti Mantere",
year = "2013",
doi = "10.1109/SocialCom.2013.149",
language = "English",
pages = "950 -- 954",
booktitle = "Proceedings",
publisher = "Institute of Electrical and Electronic Engineers IEEE",
address = "United States",

}

Mantere, M 2013, Stock Market Manipulation Using Cyberattacks Together with Misinformation Disseminated Through Social Media. in Proceedings: International Conference on Social Computing, SocialCom 2013. Institute of Electrical and Electronic Engineers IEEE, pp. 950 - 954, International Conference on Social Computing, SocialCom 2013, Washington D.C., United States, 8/09/13. https://doi.org/10.1109/SocialCom.2013.149

Stock Market Manipulation Using Cyberattacks Together with Misinformation Disseminated Through Social Media. / Mantere, Matti.

Proceedings: International Conference on Social Computing, SocialCom 2013. Institute of Electrical and Electronic Engineers IEEE, 2013. p. 950 - 954.

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

TY - GEN

T1 - Stock Market Manipulation Using Cyberattacks Together with Misinformation Disseminated Through Social Media

AU - Mantere, Matti

PY - 2013

Y1 - 2013

N2 - 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

AB - 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

KW - Cyber security

KW - misinformation

KW - social media

KW - stock market manipulation

U2 - 10.1109/SocialCom.2013.149

DO - 10.1109/SocialCom.2013.149

M3 - Conference article in proceedings

SP - 950

EP - 954

BT - Proceedings

PB - Institute of Electrical and Electronic Engineers IEEE

ER -

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