INTERPOL devised a 'global stop-payment mechanism' that facilitated the largest recovery of funds from a BEC scam, where a Singaporean firm lost $42.3 million.
Using INTERPOL’s Global Rapid Intervention of Payments (I-GRIP) mechanism, authorities in Singapore detected and froze $39 million sent to a non-existent supplier's account.
I-GRIP, launched in 2022, aided in recovering millions from illicit activities, including BEC scams linked to cryptocurrency crimes, with successful global operations like First Light.
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