Executive Briefings

Tech Firms Paid $100M to Fake Suppliers

A Lithuanian man has been arrested for tricking more than $100m out of two US technology companies by pretending to be a supplier.

Evaldas Rimasauskas, 48, of Vilnius, is facing charges of wire fraud and money laundering in the US after the FBI claimed he had organised a fraudulent email scheme.

Rimasauskas is alleged to have persuaded two US-based internet companies to wire a total of over $100m to bank accounts he had set up bearing the same name as suppliers to those companies.

Acting US attorney Joon Kim said: “From half a world away, Evaldas Rimasauskas allegedly targeted multinational internet companies and tricked their agents and employees into wiring over $100m to overseas bank accounts under his control.

“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.”

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Evaldas Rimasauskas, 48, of Vilnius, is facing charges of wire fraud and money laundering in the US after the FBI claimed he had organised a fraudulent email scheme.

Rimasauskas is alleged to have persuaded two US-based internet companies to wire a total of over $100m to bank accounts he had set up bearing the same name as suppliers to those companies.

Acting US attorney Joon Kim said: “From half a world away, Evaldas Rimasauskas allegedly targeted multinational internet companies and tricked their agents and employees into wiring over $100m to overseas bank accounts under his control.

“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.”

Read Full Article