A WhatsApp call from scammers posing as the chairman of a Singapore-based firm tricked its CEO into authorising a $36.3 million transfer — and the fraud was discovered only after he checked the supposed acquisition with the real chairman. By then, millions of dollars had already moved across borders, with investigators racing to recover the money.
The Singapore Police Force (SPF) disclosed the case on 20th May as part of an international crackdown on transnational scams. The fraud involved $36.3 million transferred from the company's local and overseas bank accounts into two accounts at Singapore's OCBC Bank.
