Singapore Scammers Pose as Executives on Microsoft Teams
Business email compromise scams have evolved beyond traditional emails into more sophisticated forms of digital impersonation. In Singapore, scammers are increasingly using messaging and video channels to pose as trusted executives and trick employees into making fraudulent fund transfers.
A recent case involved a local healthcare firm where scammers impersonated the company's chairman and managing director on Microsoft Teams chat. The chief financial officer was asked to submit the firm's financial statements, but she was tricked into almost transferring $120,000 to the scammers' bank account before realizing her mistake.
The real managing director denied giving such an instruction, and the company protocol prevented the funds from being transferred. However, if not for this safeguard, the firm would have lost a significant amount of money.
The number of business email compromise scam cases in Singapore rose from 156 in the first half of 2025 to 262 in the same period in 2026. The amount lost to such scams increased significantly from $19.5 million to $57.3 million during this time.