S’pore, US intercept over US$6.5mil lost in business email compromise scam


Singapore police said they are working with the US authorities and the victim to recover the money. — Freepik

SINGAPORE: The ruse began with an SMS message and an email impersonating the chief executive of an investment banking firm based in Singapore.

This resulted in a staff member initiating transfers amounting to some US$6.66mil (RM28.30mil or S$8.7mil) to a scammer’s bank account in the United States.

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