Infographic: Counting the costs of cybercrime

Posted by Jaclyn McRae on 18 May 2017 09:37:24 AEST

 When two of the world’s biggest tech giants are each duped $100m in a phishing scam, the world takes note.

It’s just been revealed that a Lithuanian man tricked tech companies Google and Facebook into wiring him millions by sending them fraudulent invoices purportedly from a company they work with.

Evaldas Rimasauskas allegedly impersonated Taiwanese company Quanta Computer, which lists Google and Facebook as customers.  

They made the payments to his account after being deceived by a phishing scam, a US court has heard. Phishing is an attempt to steal information such as bank or credit card details, user names or passwords, usually with the intention of making money.

For years now we’ve heard about the rising cost of cybercrime. So how common is it, and how much is it costing?


Need to get up to speed on cybercrime and how to avoid falling victim?

Download our jargon-free eBook, Surviving The Rise of Cybercrime. It takes under an hour to read and Australia's Cyber Security Minister, Dan Tehan, has commented that it should be read by every business in the nation.

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Topics: Phishing Cybersecurity cybercrime whaling CEO fraud CFOs cybercrime statistics

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