In 2025, UOB stopped over S$1.2 million in gold scams where fraudsters posing as officials pressured victims, especially seniors, to buy gold amid fake money laundering claims.

In 2025, UOB prevented over S$1.2 million in losses from six major gold bar scams, including one involving a 5kg bar worth S$700,000, as fraudsters impersonated government officials like those from MAS to pressure victims into buying gold under false money laundering allegations. Scammers exploited rising gold prices and created urgency, often targeting seniors. Bank staff intervened in several cases, including one where a senior citizen sought to buy nearly S$1 million in gold. Authorities warn government officials never request gold purchases or cash transfers during investigations and urge the public to verify suspicious communications via official channels or the ScamShield Helpline at 1799.