Google and Facebook Became Victims of $100M Payment Scam
The Justice Department has announced the arrest of a man last month who is allegedly swindled in more than $100 million from two U.S. tech giants. This news came wrapped in a little mystery. The agency did not say who was robbed, and also did not say who is the Asian supplier the crook impersonated to pull off this scheme. The mystery is now unravelled. A Fortune investigation, which has involved the interviews with sources close to the law enforcement and other figures, has revealed the identities of the three unnamed companies and other details of this case. The criminal case shows how the scams involving fake suppliers and email phishing can victimise even the most sophisticated and tech-savvy corporations. But the crime also raises the questions about why these companies have so far kept this silent and whether as a former head of the Securities and the Exchange Commission observes as it triggers an obligation to tell the investors about what had happened. In 2013, a 40 or somethi...