SEC Uses Phony Web Site to Snare, Educate Investors Computerworld (01/31/02) p.A16; Perera, Rick
The U.S. Securities and Exchange Commission (SEC) has launched a new Web site that aims to warn investors about fraudulent investment opportunities. The SEC site runs an ad for a fictitious company called McWhortle Enterprises that invites visitors to invest in the company with the pledge of making a more than 400 percent return on investment in three months. They are asked to provide credit card information and their Social Security number "for identification purposes." People who respond to the offer are then led to a page warning them about the dangers of falling for investment opportunities that make too-good-to-be-true claims of fast profits with little or no risk. The SEC's phony site was developed in conjunction with the National Association of Securities Dealers and PR Newswire Association.