informa
/
Attacks/Breaches
Quick Hits

Google, Facebook Swindled in $100M Payment Scam

Lithuanian man impersonated an Asian-based manufacturer to trick Facebook and Google into paying him $100 million.

A new investigation has uncovered details of a payment scam targeting Facebook and Google, Fortune reports. Lithuanian Evaldas Rimasauskas impersonated an Asian-based manufacturer, which often did business with both companies, to trick them into paying for products.

Rimasauskas used fake email addresses, invoices, and corporate stamps to convince accounting departments at Google and Facebook to transfer money over the span of two years. By the time they caught on, he had tricked the two companies out of $100 million.

At the time Rimasauskas was arrested in March 2017, a press release from the Department of Justice did not specify the victim companies. The manufacturer Rimasauskas impersonated was Quanta Computer, a prominent supplier for US tech companies.

Both Facebook and Google confirmed they were targeted in the attack and have recovered the bulk of funds stolen.

"This case should serve as a wake-up call to all companies – even the most sophisticated – that they too can be victims of phishing attacks by cyber criminals," said acting US Attorney Joon H. Kim in the March release.

Read more about the investigation on Fortune.

Recommended Reading:
Editors' Choice
Kirsten Powell, Senior Manager for Security & Risk Management at Adobe
Joshua Goldfarb, Director of Product Management at F5