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Man Prisoned For $122 Million Scam That Fooled Google-Facebook

Manhattan court announced 5 years prison for Evaldas Rimasauskas from Lithuania. He is charged of scamming two MNC’s and that too are facebook and Google. The fraud is worth $122 Million.

The scam took place between 2013-2015 that too by sending fake invoices spoofed E-mails that were too legit and seems from Quanta Computers Inc., a Taiwanese Company. The FBI told the matter as Business E-mail Compromise (BEC).

He fooled Facebook that paid him $99 Million while he managed to bring out $23 Million from Google. The fraud comes under limelight in 2017 when the companies that were named as victim 1 and victim 2 were identified as Facebook and Google by Reuters.

We detected this fraud against our vendor management team and promptly alerted the authorities. We recouped the funds and we’re pleased this matter is resolved.

Google

As per the report from Reuters, Rimasauskas also confirmed to scam around $49.7 million he personally gained from the tactic.

Facebook recovered the bulk of the funds shortly after the incident and has been cooperating with law enforcement in its investigation. We are confident that we have the proper controls in place to prevent such attacks in the future.

Facebook

There were 166,349 BEC incidents identified by FBI between July 2016-2019 that costs more than $26 Billion losses.

1. Use secondary channels or two-factor authentication to verify requests for changes in account information.

2. Ensure the URL in emails is associated with the business it claims to be from.

3. Be alert to hyperlinks that may contain misspellings of the actual domain name.

Suggestions for protection by FBI

Ritik Banger

Founder and Editor of The Tech Infinite. An Engineering Graduand who loves to write in Cyber Security, Tech News, Privacy Breaches, and Tutorials.

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