Cybercriminals are increasingly targeting brokerage accounts using sophisticated phishing schemes to execute "ramp and dump" scams, manipulating stock prices without traditional social media promotions. By utilizing compromised accounts, they purchase shares to inflate prices and then sell at a profit, leaving victims with worthless stocks. The scheme highlights vulnerabilities in multi-factor authentication processes that many financial institutions still rely on.
phishing ✓
ramp-and-dump ✓
cybersecurity ✓
+ brokerage
fraud ✓