Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (67590)	3/1/2001 11:08:23 AM
From: StockDung	Read Replies (1) of 122087

SEC to announce Internet-related enforcement cases WASHINGTON, Feb 28 (Reuters) - The Securities and Exchange Commission said on Wednesday that it will likely announce a series of Internet-related enforcement actions Thursday. "It is likely that tomorrow the commission will announce a significant series of Internet-related enforcement actions," the agency said in a statement. An SEC spokesman declined to elaborate or discuss the cases. The Internet became a prime vehicle for fraud in the heady days of the dot-com era because it is inexpensive and provides anonymity for scam artists. Eighty-two of the 503 enforcement cases the SEC filed in fiscal 2000 cases were related to Internet fraud, up from 69 in 1999. In 1998, there were only 18 Web cases. As the commission beefed up its staff and technology, it was able to track down people committing fraud quicker. Authorities also filed a string of enforcement sweeps targeting stock touting and other types of illegal behavior. The deputy director of the SEC's enforcement division recent said in January it may be too soon to tell if online fraud may be on the decline with the souring of the markets. "It takes awhile for issues like that to catch up to the marketplace," Stephen Cutler said in an interview with Reuters in January." 21:49 02-28-01

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