Singapore authorities are alerting businesses to a surge in deepfake scam video calls, where criminals use AI-generated manipulations to impersonate high-ranking executives and deceive employees into transferring company funds.

The Singapore Police Force (SPF), Monetary Authority of Singapore (MAS), and Cyber Security Agency of Singapore (CSA) report that scammers initiate contact through unsolicited WhatsApp messages, posing as company executives and inviting victims to join live-streamed Zoom calls. In some cases, scammers also impersonate MAS officials or potential investors. Using advanced digital manipulation, they convincingly alter their appearances to mimic real business leaders, instructing employees to transfer large sums under the guise of business payments or investments. Some victims have also been tricked into revealing sensitive personal information, such as their national identity card or passport details.

The fraud is often discovered when victims attempt to follow up with actual company executives, only to find that the scammers have vanished. Authorities urge businesses to implement strict verification protocols for video calls and financial requests, especially those appearing to come from senior management or key stakeholders. Employees should be trained to recognize signs of deepfake manipulation in audio and video and verify any suspicious communications directly through official channels before taking action.