“US brokerage regulator NASD has warned investors against reacting to stock tips sent in unsolicited mobile phone text messages”,news reports.”The authority’s warning came as email-based spam schemes aimed at hyping share prices started moving beyond email and onto mobile phones.The so-called “pump and dump” schemes involve spam messages with false recommendations of a company’s stock that lead the share price to rise.Fraudsters can then sell their shares,leaving investors with worthless stock,the regulator said.”

Text share scams multiply