A finance director at a multinational firm in Singapore was contacted about a supposed business restructuring, then joined a video conference in which the company’s CFO and several other executives were all real-time AI deepfakes. Believing the call was genuine, the director authorized a transfer of roughly $499,000 to a mule account; a follow-up request for $1.4 million raised suspicion and led to the fraud being reported. Singapore’s Anti-Scam Centre and Hong Kong police jointly traced and recovered the funds within three days.