Australia’s Eftsure Extends Payment Assurance Network to Singapore

§ 01 Executive Snapshot

• What: Eftsure has expanded its payment assurance network into Singapore.
• Who: Eftsure, a payment assurance company; Karthik Manimozhi, Global President, Growth and Markets.
• Why it matters: This expansion addresses the rising B2B payment fraud risks, particularly in a financial hub like Singapore, and supports multinational organizations in safeguarding their cross-border payments.

§ 02 Key Developments

• Eftsure’s technology offers continuous verification of payment data against verified vendor information prior to transaction execution.
• Reported global losses from business email compromise (BEC) reached approximately US$3.5 billion in 2025.
• Companies globally are estimated to lose about 7.7% of top-line revenue due to fraud, as per a TransUnion report.
• The Singapore Police Force recorded losses of S$35.3 million to BEC attacks in 2025.
• Eftsure now operates across Australia, the US, and France, supporting over 4,000 organizations.

§ 03 Strategic Context

• The rise of AI-driven fraud has made traditional manual checks inadequate, necessitating more robust automated solutions for payment verification.
• Singapore's status as a regional financial hub increases the importance of effective payment controls for multinational organizations operating there.

§ 04 Strategic Implications

• Immediate market implications include enhanced trust and security in payment processes for organizations operating in Singapore.
• Long-term, Eftsure's continuous verification technology may lead to wider adoption of automated fraud prevention measures across the finance sector.

§ 05 Risks & Constraints

• Regulatory limitations exist as the Monetary Authority of Singapore’s framework does not cover corporate clients, placing the onus on companies to establish their own controls.
• Competition from other fraud prevention technologies or emerging solutions could impact Eftsure's market share.

§ 06 Watchlist / Forward Signals

• Future developments to watch include the uptake of Eftsure’s services among Singaporean corporations and any regulatory changes regarding corporate fraud protections.
• Monitoring the effectiveness of Eftsure's technology in reducing fraud incidents and operational disruptions in payment processes will be crucial for assessing success.