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

Matti Mantere

doi:10.1109/SocialCom.2013.149

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

Matti Mantere

VTT Technical Research Centre of Finland

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

3 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 language	English
Title of host publication	2013 International Conference on Social Computing (SocialCom)
Publisher	IEEE Institute of Electrical and Electronic Engineers
Pages	950-954
ISBN (Electronic)	978-0-7695-5137-1
DOIs	https://doi.org/10.1109/SocialCom.2013.149
Publication status	Published - 2013
MoE publication type	A4 Article in a conference publication
Event	International Conference on Social Computing, SocialCom 2013 - Washington D.C., United States Duration: 8 Sept 2013 → 14 Sept 2013

Conference

Conference	International Conference on Social Computing, SocialCom 2013
Abbreviated title	SocialCom 2013
Country/Territory	United States
City	Washington D.C.
Period	8/09/13 → 14/09/13

Keywords

Cyber security
misinformation
social media
stock market manipulation

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1109/SocialCom.2013.149

Cite this

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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",

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author = "Matti Mantere",

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booktitle = "2013 International Conference on Social Computing (SocialCom)",

publisher = "IEEE Institute of Electrical and Electronic Engineers",

address = "United States",

note = "International Conference on Social Computing, SocialCom 2013, SocialCom 2013 ; Conference date: 08-09-2013 Through 14-09-2013",

}

Mantere, M 2013, Stock Market Manipulation Using Cyberattacks Together with Misinformation Disseminated Through Social Media. in 2013 International Conference on Social Computing (SocialCom). IEEE Institute of Electrical and Electronic Engineers, 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.

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

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

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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

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Y2 - 8 September 2013 through 14 September 2013

ER -

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

Abstract

Conference

Keywords

UN SDGs

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