SINGAPORE: More than US$ 40 million ( S$ 53 million ) have been recovered from a business email settlement fraud in a multi-agency, cross-border work.
Singapore’s Anti-Scam Centre, together with Timor-Leste authorities and Interpol made the “largest recovery” in a case of business email compromise scam, the Singapore Police Force ( SPF ) said on Saturday ( Aug 3 ).  ,
A” supplier” sent an email to a staff member of a Singaporean item company on July 15 asking him to move some of the money to a new Timor-Leste bank account.
The staff did not realize that the “i” in the company’s original message was replaced with a “l” and on Jul 19, transferred a total of US$ 42.3 million to the alleged provider.
The money went to Timor-Leste’s bank accounts, which was run by fraud.
The employee was simply informed by the real supplier that the company had never received the payment when they discovered the fraud.
On July 23, a authorities report was filed.
Following , the officers report, SPF engaged the Timor-Leste officials and Interpol.
On July 24, The Anti-Scam Centre received a notification that a$ 39 million bank account in Timor-Leste had been uncovered and frozen.
After a number of people were detained on July 25, Timor-Leste officials learned that more than US$ 2 million had been recovered.
A total of seven suspects were arrested by , the Scientific Police Criminal Investigation, National Intelligence Services, Financial Intelligence Unit and various law enforcement agencies of Timor-Leste, said SPF.
According to the statement, steps are being taken in Singapore to retrieve the stolen money from the prey.