back to article Bloke, 48, accused of whaling two US tech leviathans out of $100m

Evaldas Rimasauskas, a 48-year-old Lithuanian man, has been charged with defrauding two major US-based internet companies for more than $100m through whaling attacks. Rimasauskas, from Vilnius, was arrested late last week by Lithuanian authorities on the basis of a provisional arrest warrant, according to the US Department of …

"whaling (like phishing, but bigger)"

What is the cut off where whaling starts and phishing ends?

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Coat

Re: "whaling (like phishing, but bigger)"

Sorry, there isn't one, it's just a red herring.

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Joke

Re: "whaling (like phishing, but bigger)"

Ask captain Ahab...

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Coat

Re: "whaling (like phishing, but bigger)"

I don't know, you'd have to ask a FinTech expert.

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Anonymous Coward

Re: "whaling (like phishing, but bigger)"

There's a time and a plaice for these jokes.

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Re: "whaling (like phishing, but bigger)"

But you have to admit it is one that is ealily made and any way most people codn't care less

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Re: "whaling (like phishing, but bigger)"

@BebopWeBop Oh, you're just floundering now. Good Cod, man, stop being so shellfish.

So many weak fishy puns.... so little self-control.... must apologise...

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Re: "whaling (like phishing, but bigger)"

when you're called Ishmael?

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Coat

Re: "whaling (like phishing, but bigger)"

So many weak fishy puns.... so little self-control.... must apologise...
But the puns must be made, for the sheer halibut! Give in to your bass desires.

But yeah, no need to carp on about it, or else you'll have people wanting your head on a pike.

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Re: "whaling (like phishing, but bigger)"

So many weak fishy puns.... so little self-control.... must apologise...

Stop blubbering man!

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There's something wrong here ....

It seems to me that there should also be some jail time for the responsible financial staff in each of the two affected companies - after all, on average they've failed in their duty to their employers and shareholders to the tune of $50M each.

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Unhappy

The "hi tech" version of the old "pro forma invoice" scam?2

"Hello, yes there's been a terrible mixup. You've sent your payments to the wrong account. It needs to go to...."

Possible 20yrs of Jail.

IE $5m/year.

Anyone else wondering what happened to the money?

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Re: The "hi tech" version of the old "pro forma invoice" scam?2

Er, he's facing a maximum of 82 years inside, Merkins don't do concurrent sentences.

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Re: The "hi tech" version of the old "pro forma invoice" scam?2

We DO do concurrent sentences; wawp wawp wawp

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No comment from Greenpeace?

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What surprises me is how long such scams can run and go unnoticed*

Admittedly, not on the same scale or finesse, nowhere near, but this one ran for 6 or 7 years :

http://www.stokesentinel.co.uk/thieving-school-secretary-told-repay-35k/story-19578327-detail/story.html

Apparently, an example of the scam was that upto 50 pupils (their parents) paid £15 for a "day trip" , the secretary kept the cash and school funds paid out the coach firm. And nobody noticed, nor asked questions about the payments, relatively large at a smallish school.

* In respect of a largish firm, a commercial organisation, besides the financial employees one would also have to ask questions about the Auditors. Yet again.

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Unhappy

"the secretary kept the cash and school funds paid out the coach firm."

Note that's £35K over 7 years

What you have here is the classic "single person of trust" in a small firm story.

"We've never had a problem, we trust him/her implicitly."

Proper accounting systems don't need trust.

They need separation of authority from request generation and regular oversight. Good systems cannot be gamed without significant collusion, not just one person inside the company.

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Re: What surprises me is how long such scams can run and go unnoticed*

Actually, my favourite was the one last week about the lifeboat charity treasurer who ebay'd the charity's equipment, including their lifeboat...

"Greedy treasurer jailed for selling sea rescue charity's lifeboat on eBay" [telegraph.co.uk]"

I mean, how did they not notice? How far out in the towering waves were they before they realised there wasn't actually a boat under them?

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Where's the money now?

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chain

Way down the financial sign off food chain, some lowly clerk who was only allowed to deal with "small sums" would likely be fired if they got fooled by a fraud of a few grand.

But when someone at the top screws up and loses stupid amounts of cash to fraud, all too often there is no penalty for them to pay.

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Childcatcher

I'm innocent

I learnt all my techniques for hiding my ill gotten gains from the tax avoidance minimising strategies of the Murrican Tech $MEGACORPs

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