SINGAPORE: Two men have been arrested for their suspected involvement in using a counterfeit S$10,000 Orchid Series note, police said on Saturday (Aug 24).
The police said they had received a report on Tuesday from a victim who discovered that a piece of S$10,000 note, which he had bought from an online seller, was fake.
Officers then established the identities of the two suspects, aged 34 and 55, and arrested them on Thursday, police said in a news release.
According to initial investigations, the 34-year-old is believed to have bought the counterfeit S$10,000 note from an unknown man in Batam, Indonesia. He and the 55-year-old suspect later sold it to the victim for S$11,500.
The counterfeit note has been seized as a case exhibit, in addition to two T-shirts, a receipt, three mobile phones and cash amounting to S$1,200, police said. Investigations are ongoing.
If convicted of using counterfeit notes as genuine currency, the two suspects could face a jail term of up to 20 years as well as a fine.
The Orchid Series was first introduced in 1967 and consisted of nine denominations, according to the Monetary Authority of Singapore’s website. The notes feature a spray of orchids on the front and a scene of Singapore on the back. The series was discontinued in 1976.
“Members of the public are reminded to be vigilant and to examine any S$10,000 Orchid Series notes as they are not commonly available and in circulation,” said the police on Saturday.
In recent months, there have been cases involving the use of counterfeit notes, with police advising people to be on the alert after fake S$100 and S$50 notes were used at convenience stores, restaurants and retail outlets.
Members of the public are urged to make a police report should they receive a suspected counterfeit note.
“Limit the handling of the suspected counterfeit note and place it in a protective covering, such as an envelope, to prevent further tampering,” police added.