Singapore: Monetary Authority, Cyber Security Agency and Police Force issued joint advisory on scams involving digital manipulation

On 12 March 2025, the Singapore Police Force (SPF), Monetary Authority of Singapore (MAS), and Cyber Security Agency of Singapore (CSA) issued a joint advisory warning businesses about scams involving digital manipulation, particularly deepfake technology. It was highlighted that scammers impersonate high-ranking executives through artificial intelligence (AI) - generated synthetic media, contacting victims through WhatsApp and inviting them to manipulated Zoom calls where they pose as company executives, MAS officials, or investors to instruct fraudulent fund transfers. The advisory advised businesses to implement verification protocols, train employees to detect AI-generated manipulation, verify fund transfer instructions through official channels, and avoid sharing confidential information.