SINGAPORE: A 61-year-old man was arrested on Friday (Oct 18) after he was suspected of using a fake S$10,000 Portrait Series note.
Police received a report on Thursday that the fake S$10,000 note was presented at a bank in Singapore.
The man had earlier deposited the note and his bank account was credited with its corresponding value, police said.
“Preliminary investigations revealed that the man had received the counterfeit note from an unknown foreign man who sought his assistance to deposit the note, in exchange for a monetary reward,” the police said in a news release.
The man will be charged on Saturday with using a counterfeit currency note as a genuine one. He faces a jail term of up to 20 years and a fine if convicted.
“The police take a serious view against any person who may be involved in using as genuine counterfeit currency notes and the perpetrators will be dealt with accordingly to the law,” the news release added.
The force said people should remain vigilant and examine any S$10,000 Portrait Series notes as they are not commonly available and in circulation.
Members of the public should also be wary of receiving fake notes, police said. If they do receive a counterfeit note, they should delay the person who presented the note and if possible, call 999.
People should note how the person looks like, and the description and number plate of any vehicle used.
“Limit the handling of the suspected counterfeit note and place it in a protective covering, such as an envelope, to prevent further tampering. Hand it over to the police immediately,” the force added.
Information on the security features of genuine Singapore currency can be found on the Monetary Authority of Singapore website.