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93 victims lost $56.2 million to business e-mail compromise scams from Jan to March

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In the first three months of 2022, around 93 victims lost at least $56.2 million to business e-mail compromise (BEC) scams, said the police on Friday (July 29). This sum is almost 10 per cent of the $633.3 million lost to all scams in Singapore in 2021. BEC...

The recovery, which was done on May 2, is the largest sum the authorities have recovered from a single case.

Over the next few days, two separate cases were linked to the same syndicate allegedly behind this heist. Mr David Chew, director of the Commercial Affairs Department, said:"The responsiveness and quick actions of the bank staff enabled the successful recovery of the foreign victims' money, even though the initial report was received on a weekend."

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