Detecting Government Official Impersonation Scam (GOIS) in Gold and Jewellery Transactions

Dear Regulated Dealers

We would like to draw your attention to a concerning rise in cases where mules or victims were instructed to buy gold bars or jewellery in Government Official Impersonation Scams (“GOIS”). As highlighted in our previous advisories dated 9 June 2025 and 4 July 2025, at least 80 GOIS cases have been reported since June 2025, resulting in losses of at least $6.7 million.

Amid these worrying trends, we are encouraged by a recent case in which MoneyMax Jewellery Pte. Ltd.’s vigilant staff successfully thwarted a scam attempt. As a result of the staff's alertness and keen observation, the Police were able to intervene swiftly and prevent monetary loss of $20,900 to a scam victim. Click here ↗ (opens in new tab) to access the Police press release on 14 July 2025 regarding its recognition of MoneyMax Jewellery Pte. Ltd. staff’s contribution towards detecting and preventing a case of GOIS.

This positive outcome reinforces the important role that alert and well-informed frontline staff of regulated dealers play in working with the Police to deter, detect and prevent crime. Such outcomes are made possible especially when there is clear direction from senior management and ongoing efforts by regulated dealers to train staff to identify and handle suspicious indicators.

You may want to pay close attention to the following red flags which could be indicators of customers acting as mules or who have fallen victim to scams:

• Customers making unusually large gold purchases (e.g. jewellery, luxury watches)

• Customers appearing distressed or receiving phone calls while making purchases

• Customers refusing to provide information on the reason for the purchases

• Customers appearing to be in a hurry to complete the transactions

• Customers seeking to complete transactions without due consideration of their purchases (e.g. value, design)

• Customers being reluctant or unable to produce physical credit cards

• Customers providing payment details that do not match their known customer profile

• Customers attempting to resell substantial quantities of gold

• Customers cancelling transactions when they are almost complete

• Customers requesting to split payment using multiple cards without apparent reason

If you or your staff encounter customers who exhibit the above red flags, the following actions may be considered:

• Inquiring about the purpose of purchases

• Requesting physical cards when customers pay using digital wallets

• Conducting Customer Due Diligence (“CDD”) by requesting identification cards or passports

• Verifying the cardholder's name against CDD information

• Contacting your processing bank for advice on suspicious transactions

• Observing customer reactions to additional requests for any unusual behaviour

We strongly encourage you to ensure that your frontline staff are familiar with these indicators and appropriate response actions.

If you observe any suspicious behaviour, please alert your nearest Neighbourhood Police Centre. If you have any information relating to such crimes or are in doubt, please call the Police Hotline at 1800-255-0000, or submit it online at https://www.police.gov.sg/i-witness ↗ (opens in new tab). All information will be kept strictly confidential. If you require urgent Police assistance, please dial ‘999’.

Your cooperation is invaluable in preventing such scams and protecting vulnerable members of our community.