Computer Repair & Business IT

Email scam robs two major tech companies of $100 million

Email scam robs two major tech companies of $100 million

A Lithuanian man has been charged after a two-year phishing scheme

An unsealed indictment reports that the FBI and the State of New York have charged a Lithuanian man for tricking two major US-based internet companies into wiring him a combined amount of over $100 million.

Evaldas Rimasauska, 48, allegedly registered and ran a fake company in Latvia under the same name as an Asian-based computer hardware manufacturer from 2013 to 2015. During this time, he was able to get the two companies to respond to phishing emails, getting them to wire large amounts of money to bank accounts in Latvia and Cyprus, it’s claimed.

Rimasauska then allegedly wired the stolen funds to bank accounts in various locations, including Slovakia, Hungary and Hong Kong. Forged documents made to look like they had been signed by executives from the two companies were sent to the banks to convince them the large amounts of money were legitimate, according to the FBI.

The companies have chosen to remain unnamed at this time, but have been described as a “multinational technology company” and a “multinational online social media company”.

Rimasauska has been charged with one count of wire fraud and three counts of money laundering, each of which carry a maximum 20-year prison sentence. He was also charged with one count of aggravated identity theft, which carries a mandatory two-year prison sentence.

“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 general, Joon H. Kim  http://www.itpro.co.uk/security/28364/email-scam-robs-two-major-tech-companies-of-100-million?_mout=1&utm_campaign=newsletter&utm_medium=email&utm_source=newsletter&tpid=2411755726

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