Singapore police said the woman, 73, is believed to have been a mule in the scam operation where the scammers posed as government officials, The Straits Times reported.

They said the suspect was allegedly involved in three such cases at least.

A police statement said that following her arrest on Nov 24, she was found to possess about S$200 (RM637) in cash and gold bars worth about S$200,000.

It said several reports were filed between Oct 8 and Nov 24 about the scam involving the impersonation of officials from the central bank, the Monetary Authority of Singapore.

“On Nov 24, an employee at gold and silver dealer BullionStar along New Bridge Road alerted police to a woman loitering suspiciously outside the retail premises.

“Officers from the central police division arrested the woman on the same day,” the statement said.

Police said victims were told that their bank accounts had been linked to money laundering activities or that their personal information had been compromised.

The victims were instructed to surrender their money and valuables for investigations. They met unknown individuals at various places across Singapore to hand over cash and gold bars.

When they did not receive refunds promised to them or when the scammers became uncontactable, the victims realised that they had been scammed.

The police said the investigation into the woman’s actions is ongoing.