Joint Advisory Reveals Shocking New Trends In Digital Scams

On 12 March 2025, a warning was issued in Singapore that sent ripples of concern throughout the community. The Singapore Police Force, the Monetary Authority of Singapore, and the Cyber Security Agency of Singapore came together to alert the public about an alarming new scam. This scheme, they explained, involved sophisticated digital manipulation, allegedly powered by Artificial Intelligence, to create convincing synthetic media known as deepfakes.

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Imagine receiving a WhatsApp message from what seems to be a high-ranking executive at your company. The message is cordial yet urgent, inviting you to join a live Zoom meeting with other top executives. Unbeknownst to you, the person behind the screen is not who they claim to be. Scammers have reportedly used AI technology to alter their appearances, mimicking the facial features and voices of these executives with unsettling accuracy.

As the video call unfolds, everything appears legitimate. The familiar faces on the screen discuss company matters, and then comes the unexpected request: a directive to transfer company funds to a specified account. The convincing nature of the interaction leaves victims unsuspecting, leading them to comply without hesitation.

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The authorities have noted an uptick in these incidents, with scammers exploiting advanced technology to breach corporate trust. They urged companies and employees alike to exercise extreme caution and verify any requests for fund transfers through official channels. As this digital age unfolds, vigilance becomes paramount in safeguarding against such cunning deceptions.

It is widely believed that digital manipulation skillfully altered the appearances of scammers, enabling them to convincingly impersonate high-ranking executives. In some instances, scammers orchestrated video calls with scammers posing as officials from the Monetary Authority of Singapore (MAS) or potential “investors.” The victims, caught in this web of deceit, were instructed to transfer substantial sums from their company’s corporate bank accounts. These transfers were cleverly disguised as legitimate business payments, such as project financing or investment opportunities.

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Adding to the complexity, victims were sometimes asked to divulge sensitive personal information like their NRIC and passport details. To further entrench the deception, victims were directed to a second scammer masquerading as legal counsel from their own company. This imposter would send official-looking documents, such as Non-Disclosure Agreements or Board Letters, directly to the victim’s email.

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As time passed, the truth began to unravel. Victims found themselves unable to reach the scammers, their calls and messages met with silence. Doubts grew, prompting them to verify with the real executives of their company. It was then, with a sinking realisation, that they discovered they had been ensnared in a sophisticated scam.

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In the bustling world of business, new threats often lurk in unexpected corners. One day, a well-known company received a seemingly ordinary video call from their CEO. The employees, eager to comply with what appeared to be urgent instructions, almost fell for a cleverly disguised scam. This incident served as a wake-up call, prompting businesses to adopt precautionary measures to safeguard against such deceptions.

First, companies began establishing strict protocols for verifying video calls and messages, especially those claiming to be from top executives or key stakeholders. Training sessions were organised, teaching employees to approach unsolicited communications with caution, even if they seemed to come from familiar faces.

Next, there was a growing awareness about sudden fund transfer requests. Businesses encouraged their staff to double-check any urgent financial instructions by contacting the relevant departments directly through secure channels. This step ensured that hasty decisions didn’t lead to financial loss.

Moreover, employees were trained to scrutinise the audio-visual elements of video calls for any signs of AI manipulation. They learned to spot inconsistencies and became adept at identifying potential scams. For further guidance, they referred to detailed resources like Annex A and advisories from the Cyber Security Agency.

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Lastly, a golden rule was established: never disclose confidential information or send money without thorough verification. This lesson, born from the near-miss incident, fortified businesses against future threats and kept them vigilant in an ever-evolving digital landscape.

In the bustling offices of a thriving company, an unexpected threat loomed large. A new scam was making its rounds, targeting businesses and their unsuspecting employees. The management team knew they had to act quickly to protect their hard-earned assets.

The first step was clear: alert all employees about this insidious scam. Special attention was given to those responsible for handling fund transfers, as they were on the front lines of this financial battlefield. A detailed briefing was conducted, emphasising the importance of vigilance and scrutiny in every transaction.

Despite their best efforts, there was always a chance that someone might fall victim to these cunning fraudsters. If any suspicion arose that the company had been targeted, immediate action was crucial. Employees were instructed to contact the associated bank without delay, reporting any fraudulent activities and blocking suspicious transactions. A police report was also a necessary step in this fight against crime.

Meanwhile, the Monetary Authority of Singapore (MASImage may be NSFW.
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In moments of doubt, the 24/7 ScamShield Helpline at 1799 became a lifeline for concerned individuals. The helpline offered guidance and reassurance, while the ScamShield website provided a wealth of information on the latest scams. It was a community effort to stay informed and vigilant, with everyone playing a part in protecting each other from these threats.

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Screenshots and tell-tale signs of manipulated audio or video were shared as part of an educational annexe, equipping employees with the knowledge needed to spot deception. In this united stand against scams, the message was clear: together, we can ACT Against Scams and keep our community safe from harm.

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