ICBANK / Fraud Awareness

Fraud Awareness

Recognize, verify and report suspicious requests before money or credentials move.

Attackers may impersonate executives, bank staff, suppliers or professional advisers and then pressure the recipient to act before normal verification can occur. The requested action may be a payment, beneficiary change, document release or disclosure of authentication information.

Process FAQ

ICBANK · U.S. & Singapore

Recognize the pattern

Fraud frequently relies on urgency and authority.

A professional-looking email or document is not proof of authenticity.

Unexpected beneficiary changes
Requests for OTPs or login credentials
Pressure to bypass approvals
New payment instructions sent only by email

Verify independently

Use a trusted channel, not the contact details in the suspicious message.

If an instruction is unusual, contact the known relationship manager, supplier or colleague using a number or email address already on file. Do not rely on telephone numbers, QR codes or links contained in the message being verified.

For payment changes, confirm the full beneficiary name, bank and account information before release.

Respond quickly

Speed matters after a suspected compromise.

Stop further instructions, preserve the message or document, change affected credentials and contact the relevant bank or service provider. If funds have already moved, immediate notification gives the best chance of intervention.

Fraud Awareness

Fraud frequently relies on urgency and authority.

A professional-looking email or document is not proof of authenticity.

Trust depends on verified identity, clear authority and controlled communication

Strong controls help protect client information, payment instructions and transaction integrity. Verification is especially important when instructions, beneficiaries, devices or communication channels change.

Clients should use authenticated channels, protect credentials and one-time codes, and independently confirm unusual requests before acting on them.

From initial mandate to execution

1. Define the requirement

Clarify the client, objective, amount, jurisdictions, counterparties and expected outcome.

2. Establish client and authority

Confirm identity, ownership, authorized persons and the purpose of the relationship.

3. Review structure and risk

Assess commercial logic, documentation, cash flow or obligations, counterparties and relevant controls.

4. Document approvals and conditions

Record the agreed scope, internal approvals, conditions, responsibilities and formal terms.

5. Execute through authenticated channels

Proceed only through the approved workflow with clear records, status visibility and controlled instructions.

Documentation

Information typically required for review

Legal or personal identity and current contact details
Ownership structure and authorized signatories where relevant
Purpose of the account, transaction, investment or financing request
Expected countries, currencies, counterparties and transaction flows
Corporate, financial, KYC and supporting transaction documents
Evidence explaining any unusual amount, structure, funding source or commercial feature

Discussion

Key points to resolve before commitment

Jurisdiction

Which legal entity will actually provide, coordinate or document the service?

Authority

Who may instruct, approve, sign or change payment details on behalf of the client?

Evidence

What current documents are required before review or execution can continue?

Reliance

Which terms are only indicative and which become binding only after formal approval and signature?

Cross-border coordination with clear legal-entity responsibility

ICBANK serves international clients through its United States and Singapore platforms. Corporate and institutional banking, trade and project finance, transaction services and private-capital capabilities may be coordinated across the relationship where appropriate, with the responsible legal entity, jurisdiction and documentation identified for each mandate.

Clients may engage through the United States or Singapore platform according to service requirements, location, transaction structure and eligibility. Cross-border coordination is designed to provide continuity while preserving clear local responsibilities, due diligence standards and applicable legal requirements.

ICBANK U.S. →ICBANK Singapore →

FAQ

Key client questions

When does a banking discussion become a formal commitment?

Only after the responsible legal entity has completed its review, issued formal approval where applicable, and the required documentation has been executed. Preliminary discussions, indicative terms and website information are not commitments.

Can one mandate involve both branches?

Teams may coordinate where appropriate, but the relevant legal entity, service scope, documentation and jurisdiction must be confirmed for each mandate.

Why may documents be requested again?

Client, ownership, transaction and risk information can change. Periodic or event-driven review helps keep records accurate and controls aligned.

How should sensitive information be sent?

Use the secure application or authenticated client channels. Do not send passwords, PINs or authentication codes by ordinary email.

ICBANK

Use a trusted channel, not the contact details in the suspicious message.

Start a relationship

Start with your objective. We’ll help structure the next step.

Open an account, request a service or begin a specialist banking application through the secure client process. Submission starts the review process and does not constitute approval or commitment.

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