During the corona pandemic, equity interest has increased among the population. But it has also cheated. The Swedish Environmental Crime Agency is receiving an increasing harvest of tips about fake share advice on social media.
– We have noticed a furious development. This is a big change, says Jan Leopoldson, who is the prosecutor at the Swedish Environmental Crime Agency’s financial market chamber.
Both on Twitter, Facebook, Instagram and Tiktok are healthy tips on shares worth buying. But not all advice is given out of kindness.
During this year, the Swedish Environmental Crime Agency has received a sharp increase in the number of tips on market manipulation, as it is called when a person encourages others to buy a share in order to drive up the share price and be able to sell at a profit. Most often it is about shares in small companies. But not always.
– There are some indications that it is also starting to move out to larger companies with more trade. It becomes more organized and can also take place in collaboration with certain listed companies. It is important that it does not go in that direction, says Jan Leopoldson.
Maria Landeborn, who is a senior economist at Danske Bank, believes that it is very serious. Apart from the fact that some of those things are criminal, they are devastating for the stock market and trading, she says.
Hear more in this week’s Ekonomiekot Extra – listen here!