2 Malaysians Arrested in $1 Million Gold Scam Impersonating Singapore Officials

Singapore police have arrested two Malaysian men believed to be part of a transnational syndicate that scammed a woman into buying more than S$412,000 (RM1.44 million) worth of gold under the guise of a government investigation.

The suspects, aged 22 and 38, were detained on Saturday and are expected to face charges in court for their alleged roles in the elaborate government-official impersonation scheme.

According to a police statement, the case began when the victim, a Singaporean woman, received a call from someone claiming to be a bank officer. The caller alleged that a credit card had been fraudulently issued in her name and that she might be implicated in financial misconduct.

Moments later, the call was transferred to individuals posing as officers from the Law Ministry and the Monetary Authority of Singapore (MAS). The scammers accused her of being involved in money laundering and warned of serious legal consequences if she failed to cooperate.

To strengthen the illusion, the perpetrators allegedly sent counterfeit staff passes and official documents via WhatsApp, adding an air of credibility that convinced the woman she was dealing with real government officials.

Frightened and desperate to clear her name, she followed their detailed instructions. First, she was told to transfer S$1 million (RM3.5 million) from her bank account to a credit card under the syndicate‘s control. Then, she was ordered to purchase S$412,000 (RM1.44 million) worth of gold from Mustafa Centre, one of Singapore’s largest jewellery and retail outlets.

Believing she was assisting an official investigation, the woman handed the gold to an unknown courier, never realising that the entire operation was a scam.

Police investigations later identified the 38-year-old suspect, who was arrested upon re-entering Singapore, while the 22-year-old man was detained separately on the same day.

Authorities believe both men acted as “money mules”, responsible for collecting cash, valuables, and gold from victims on behalf of a wider criminal network. Preliminary findings indicate that they were taking instructions from syndicate members operating outside Singapore.

If convicted, the suspects face up to 10 years‘ imprisonment, a fine of up to S$500,000 (RM1.75 million), or both. Under Singapore’s enhanced criminal law, individuals found assisting scam syndicates may also face six to 24 strokes of the cane.

In the first half of 2025, Singapore recorded 19,665 scam cases with total losses amounting to S$456 million (RM1.6 billion). The five most common were phishing, e-commerce, job recruitment, investment, and government official impersonation scams.

Authorities continue to urge the public to remain sceptical of unsolicited calls from individuals claiming to represent government agencies or financial institutions, and to verify identities directly through official hotlines.