Question

find a recent news report or law enforcement press release about a specific instance of a cybercrime which impacted the financial services industry (or customers). Analyze the report / press release

Answer 1

It is about a person who steals money from both google and facebook through wire transfer fraud. His name is Evaldas Rimasauskas. Both the customers of the institutions were in a shock after knowing this incident.

The actual thing what happened was, he tampered some of the invoices which were already paid by both the companies and altered them so that they couldn't identify them and made the both companies pay for something which they haven't received. Those invoices were tampered in such a way that it included forging of signs manipulations of company names etc. work. He even sent the tech giants emails that believed to be the mails from the sellers itself. He created nearly 5 plus companies that had no building and nothing, they were just companies for name sake which had no legal enforcement and nothing, on which he created invoices. He cooked up everything well until he was caught one day.Google later discovered that they are paying for something that they haven't received yet.

So there comes the end card for evladas. He nearly stole $122 million from both the tech giants. He has agreed to forfeit $50 million, and could face up to 30 years imprisonment as per the law and regulations.

Customers (stakeholders) of both the companies got effected about the stock price and working of the companies after knowing this fraud, but in no time everything got under control and sooner or later both the companies will earn what they've lost.