SINGAPORE – A total of US$12.8 million (S$16.4 million) was recovered by the Singapore police, working with their Cambodian counterparts and OCBC Bank, after a company was duped into transferring the money to an overseas account.
The Singapore Police Force (SPF) said in a statement on Oct 29 that the Singapore-based petrochemical company had sent the money to a bank account in Cambodia on Oct 13 after receiving an authorisation letter with the company signature and stamp of its business partner.
The company first received an e-mail from the business partner’s address on Oct 1 with instructions directing payment to a new bank account, the police added.
Despite finding a discrepancy in the payment documents at first, the Singapore company sent the money later after receiving the authorisation letter, which was subsequently determined to be fake.
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