Google and Facebook Duped in Huge Scam

Hawaii Intelligence Digest, 29 April 2017, 05:45 hrs, UTC, Post #185.

Source:

http://www.bbc.com/news/technology-39744007.

Accessed on 29 April 2017, 05:45 hrs, UTC.

Reporter:  Chris Baraniuk, BBC technology correspondent.

Please click link to read the full story.

Comment:

According to BBC technology correspondent  Chris Baraniuk, a Lithuanian man has been charged with running an email phishing scam that stole over 100 million dollars from Facebook and Google.  Baraniuk said the two social media companies were apparently tricked into wiring the funds to the alleged scammer’s bank accounts.

Baraniuk says much of the money has been recovered, but the total amount taken won’t be known until a full investigation is done:

“The man accused of being behind the scam, Evaldas Rimasauskas, 48, allegedly posed as an Asia-based manufacturer and deceived the companies from at least 2013 until 2015.”

“Fraudulent phishing emails were sent to employees and agents of the victim companies, which regularly conducted multimillion-dollar transactions with [the Asian] company,” the US Department of Justice (DOJ) said in March.

“These emails purported to be from employees of the Asia-based firm, the DOJ alleged, and were sent from email accounts designed to look like they had come from the company, but in fact had not.”

“The DOJ also accused Mr Rimasauskas of forging invoices, contracts and letters “that falsely appeared to have been executed and signed by executives and agents of the victim companies”.

“We detected this fraud against our vendor management team and promptly alerted the authorities,” a spokeswoman for Google said in a statement.

“We recouped the funds and we’re pleased this matter is resolved.”

“However, the firm did not reveal how much money it had transferred and recouped.”

Nor did Facebook – but a spokeswoman said: “Facebook recovered the bulk of the funds shortly after the incident and has been cooperating with law enforcement in its investigation.”

Opinion:

Cyber criminals are hitting just about everybody these days, including large corporate entities such as Google and Facebook.  Email accounts are especially vulnerable to scammers and hackers.  Make it standard operating procedure never to open unfamiliar emails, especially those with suspicious attachments.  Upgrade your web and blog security now…you’ll thank yourself later.

For the latest developments in strategic forecasting, geopolitical intelligence, terrorism, politics, and cybersecurity, please visit my Daily Intelligence Briefing at:

https://paper.li/f-1482109921.

For more information on the above topics, please check out the blog sidebars. These news feeds are updated daily.

Opinions expressed in this blog are mine unless otherwise stated.

Thanks for joining us today.

Until next time,

Russell Roberts

Hawaii Intelligence Digest

https://hawaiiintelligencedigest.com

https://paper.li/f-1482109921

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: