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EcommerceBytes-NewsFlash, Number 248 - January 29, 2002 - ISSN 1539-5065    3 of 4

'Safe SEC': SEC Demonstrates Dangers of Casual Investing

By Ina Steiner
January 29, 2002

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The U.S. Securities and Exchange Commission (SEC) perpetrated a hoax last week in an effort to highlight the dangers of casual investing. The SEC issued a fake press release about a company called McWortle Enterprises. The release pointed to a Web site that looked quite legitimate http://www.mcwhortle.com. When users clicked on a page to bid on shares, a page came up with the headline "If you responded to an investment idea like this . . . You could get scammed!" http://news.com.com/2100-1023-823578.html

With online payment service PayPal about to go public, auction users should be extremely careful about fake Web sites and emails that look like they come from companies or investment firms. Be very careful before ever entering personal information into a Web site. See how another hoax attempted to fool people into giving personal information in an "identity theft" scam - this fraud masqueraded as an order confirmation from online auctioneer Ebay. http://www.computeruser.com/news/02/01/27/news5.html

About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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