SINGAPORE: Two men were charged on Thursday (Mar 24) for their suspected involvement in possessing and using five counterfeit S$10,000 notes, the police said on Friday.
Police arrested the men, aged 66 and 39, at the DBS Bank at Plaza Singapura on Tuesday.
The 66-year-old man had allegedly presented three S$10,000 notes and one S$1,000 note to be deposited into his corporate bank account.
But the bank teller suspected that the S$10,000 notes were fake, and credited only the S$1,000 note into the account, the police said.
Police were alerted, and the men were arrested after preliminary investigations.
Five counterfeit S$10,000 notes were seized, including two additional counterfeit notes that the older man surrendered to the police.
Officers also raided the older man’s residence and the 39-year-old’s hotel room and recovered some documents believed to be forged.
“The police take a serious view of any person found criminally involved in counterfeit currency,” the police said in a news release.
Those found guilty of forging or counterfeiting currency or bank notes, or of using counterfeit notes as genuine, face a jail term of up to 20 years and a fine.
The same maximum penalty applies for those who make or possess instruments or materials for forging currency or bank notes.
For possessing them, offenders can be jailed up to 15 years and fined.
The police also reminded the public to be wary of counterfeit notes. If they do receive one, they should call 999 immediately.
They should note how the person looks, as well as the description of the vehicle used if any.
“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 news release said.
Information on the security features of genuine Singapore currency can be found on the Monetary Authority of Singapore website.