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Three arrested over alleged use of counterfeit $10,000 note

SINGAPORE – A 58-year-old man and two women aged 33 and 37 have been arrested for allegedly using a counterfeit $10,000 note.

In a statement on Saturday (Sept 25), the police said they received a report on Wednesday that the man had presented a counterfeit $10,000 portrait series note to staff at a bank in Clementi Avenue 3.

He had requested to exchange the note for smaller denominations but the staff member noticed that it was counterfeit and alerted the police.

The man was arrested by officers from the Commercial Affairs Department, and the two women were later identified as suspects.

It is not clear how the women were involved in the scheme, as investigations are ongoing.

Police seized the $10,000 note, a red packet and a fake document purportedly issued by the Monetary Authority of Singapore.

Anyone convicted of counterfeiting bank notes or using them can be jailed up to 20 years and fined.

The police urged caution if people ask to exchange large denomination notes for smaller ones.

Those who encounter a note suspected to be counterfeit should place the note in an envelope and hand it over to the police immediately.

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