SINGAPORE, July 30 -- Two Malaysian men were arrested at Woodlands Checkpoint after allegedly collecting more than S$39,000 (RM123,500) in cash, gold bars and valuables from two women deceived by scammers posing as officials from Singapore's financial regulator.

The men, aged 30 and 40, were detained yesterday over their suspected involvement in at least two government official impersonation scams, according to police, Singapore-based media organisation AsiaOne reported.

The cases, reported on July 24 and July 28, involved a similar method.

In each incident, a woman was contacted by someone claiming to be an official from the Monetary Authority of Singapore (MAS) and told that her bank accounts had been linked to money laundering.

The...