With digital scams on the rise, even the largest tech giants are getting swindled for vast sums of cash. An investigation by Fortune revealed that Facebook and Google were the victims of an elaborate email phishing scam that cost them $100 million over the course of two years.
The fraud was conducted by Evaldas Rimasauskas, a 48-year-old Lithuanian who fabricated email addresses, invoices, and other corporate materials to masquerade as Quanta Computer -- a hardware supplier based in Taiwan that often works with large tech companies. The incident was first reported last month, although the US Justice Department has refused to confirm which companies were targeted by the campaign.
But both companies independently confirmed their role in the ordeal, however, as a Facebook spokesperson wrote in a statement: “We recovered the bulk of the funds shortly after the incident and has been [sic] cooperating with law enforcement in its investigation.” Google, on the other hand, wrote earlier this week: "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."