Australian payment assurance company Eftsure has expanded its network into Singapore, bringing its continuous payment verification controls to the city-state.
The launch allows multinational organisations, particularly those with centralised finance teams using Singapore as a regional hub, to monitor and verify cross-border payments.
The expansion comes against a backdrop of rising B2B payment fraud.
Reported losses from business email compromise (BEC) approached US$3.5 billion globally in 2025, while companies worldwide lost an estimated 7.7% of top-line revenue to fraud, according to a TransUnion report.
Eftsure’s technology provides a continuously verified source of payment data, matching payment details against verified vendor data before money is moved.
“AI has made fraud cheap to produce and truth expensive to verify,”
said Karthik Manimozhi, Eftsure’s Global President, Growth and Markets.
“CFOs are still trying to keep control of payments while contending with synthetic instructions, human error and data scattered across disconnected systems. In a financial hub like Singapore, that pressure compounds with every cross-border transaction.”
Corporate exposure to payment fraud risks
The threat is particularly pronounced in Singapore.
While the Monetary Authority of Singapore’s (MAS)Shared Responsibility Framework covers certain phishing scams, it does not cover corporates, meaning companies must establish their own internal payment controls.
The Singapore Police Force recorded S$35.3 million in losses to BEC attacks in 2025.
Manimozhi said that manual checks are no longer sufficient to counter AI-driven impersonation attempts.
“Trust now has to sit inside the infrastructure itself, validating payment data before money moves,”
he said.
Moving beyond manual checks with continuous monitoring
Eftsure’s platform combines business identity verification, anomaly detection, and expert analyst review to monitor vendor data for changes over time.
This continuous verification supports workflows ranging from procure-to-pay and payroll to high-value disbursements.
Manimozhi noted that this verification also captures administrative errors and duplicate payments. The launch in Singapore allows organisations already using Eftsure globally to extend these controls to their local vendor networks.
Eftsure launched in Australia in 2014 and merged with France’s Sis ID in 2025. It now operates across Australia, the US, and France, supporting over 4,000 organisations.
Featured image credit: Edited by Fintech News Singapore, based on image by halalstock via Magnific
