FITUG e.V. Förderverein Informationstechnik und Gesellschaft

U.S.: SEC Policing the Internet

http://www.iemagazine.com/000626/news2.shtml#Policing

June 26, 2000, Volume 3 - Number 10

Policing the Internet

Bowing to protests from privacy groups, the Securities and Exchange Commission (SEC) recently issued a statement clarifying the scope of a Request for Proposal (RFP) for an automated Internet search system the federal agency issued to 107 companies in January. According to the Wall Street Journal, the SEC initially planned to award a contract to one of the bidders to set up an automated Internet search system using a “Web crawler” to continuously monitor chat rooms, message boards, and public Web sites for suspicious phrases, which would be captured in a database for further analysis and possible use by SEC investigators in civil proceedings. The system would also try to find email addresses and other identifiers for people writing the messages or managing the Web sites containing the suspect phrases. The SEC Enforcement Division’s Office of Internet Enforcement hopes to use the search system to track down online stock swindlers by searching for dubious phrases, such as “get rich quick,” and keeping a record of fraudulent claims about stock.

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