What was the total value of assets lost in the two reported government impersonation scams?

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The total value of assets lost in two reported government impersonation scams reached S$39,000.

Two Malaysian men were arrested at Woodlands Checkpoint for their alleged involvement in collecting over S$39,000 in cash, gold bars, and valuables from two women who were deceived by scammers impersonating officials from Singapore’s financial regulator. The arrests followed separate incidents reported on July 24 and July 28, where victims were duped into handing over assets believed to be for official investigations.
First Victim Lost S$9,000 in Cash

The initial scam involved a woman who was contacted by someone claiming to be an official from the Monetary Authority of Singapore (MAS). She was informed that her bank accounts were linked to money laundering activities and, believing the money was required for an investigation, she handed over S$9,000 in cash to an unidentified man.
Second Victim Surrendered Valuables and Gold

In the second reported case, a woman was similarly contacted by a scammer posing as a MAS official. She was persuaded to surrender gold bars valued at over S$20,000 and other valuables estimated to be worth approximately S$10,000. Both victims were led to believe that the individuals collecting these items were acting on behalf of the authority.
Suspects Apprehended After Ground Investigations

Police officers from the Cyber Command, with assistance from the Immigration and Checkpoints Authority, identified the two suspects, aged 30 and 40, through ground inquiries and subsequent investigations. Preliminary findings indicate that the men allegedly collected the assets before passing them to other individuals and leaving Singapore. Authorities suspect the pair may be connected to several other similar cases.

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What was the total value of assets lost in the two reported government impersonation scams?

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