A 48-year-old Lithuanian man named Evaldas Rimasauskas managed to defraud internet giants Facebook and Google of $100 million over a span of two years, according to Fortune and the United States Department of Justice. How'd he do it? A little email phishing, of course.
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Rimasauskas set up several accounts in Latvia and Cyprus under the name of an Asian "computer hardware manufacturer" that does business with the search giant and the social giant, according to the Justice Department. Then he set up fake email accounts pretending to be representatives of the hardware company. He used those fake accounts to request money from Google and Facebook, who wired cash his way. That kind of cash may have caused some raised eyebrows at the banks into which Rimasauskas funneled the money, but he "forged invoices, contracts, and letters that falsely appeared to have been executed and signed by executives and agents" of Google and Facebook, according to the Justice Department. Read more...More about Fraud, Email, Facebook, Google, and Business