Finding your inboxes overloaded with spam lately? You are not alone. Spam has doubled from last year worldwide according to the spam filtering firm Ironport. In fact--spam now accounts for nine out of every ten email messages sent.
Richard Prati is Chairman and CEO of American Technology Research Inc. The company provides institutional clients with research on large and small capitalization companies in a select few industries. Prati appeared on "Squawk Box" to talk about the recent surge in spamming.
He says his company spends up to $1 million to try and control spam. Prati says he personally gets between 700 and 800 spam emails a day. That's right--in one day. He says for a company like his--which has to store all emails coming in--the recent surge in spamming is a storage issue as well as productivity issue. His IT team has to spend a lot of time sifting through the spam.
Solutions? Prati says it's beyond technology--in that the spammers always seem to come up with new ways to send the annoying emails.Prati believe strong enforcement and fines are necessary to get spamming back under control.
Prati did say that even talking about it on CNBC could be "dangerous." He said someone could hear him complaining about spam--and send him even more spam to shut down his system.