Overview
- The victim was first called by someone claiming to be from a bank, then transferred to impostors posing as MinLaw and MAS officials who alleged a money-laundering probe and showed fake IDs via WhatsApp.
- She was instructed to move S$1 million to her credit card and buy more than S$412,000 in gold at Mustafa Centre before handing it to an unknown person.
- Investigators identified a 38-year-old alleged collector and arrested him on Nov 8 when he re-entered Singapore.
- A 22-year-old was arrested the same day for suspected involvement in similar cases, with both to be charged on Monday under laws carrying up to 10 years’ jail, a S$500,000 fine, or caning.
- Police highlight a growing trend of Malaysians collecting cash and gold for syndicates, cite 19,665 scam cases and S$456 million lost in the first half of 2025, and urge the public not to transfer funds or hand over valuables to unverified individuals.