Incident Overview

In a startling incident that underscores the importance of vigilance against counterfeit currency, a 36-year-old man is set to face charges on Thursday, January 23, for allegedly attempting to deposit a fake S$10,000 (approximately US$7,400) note at a local bank.

Details of the Incident

The remarkable occurrence took place around noon on December 23, 2024, at a bank situated on Upper Cross Street. The suspect allegedly approached a counter staff member, presenting the counterfeit S$10,000 note and asking for it to be deposited into his account. However, the sharp-eyed bank employee quickly detected something amiss with the note.

Immediate Response

Upon spotting the irregularities, the employee promptly informed the bank manager. The alert management swiftly alerted the police, who arrived on the scene to apprehend the suspect. The counterfeit note was seized for further investigations, and the man was taken into custody.

Legal Context

It’s noteworthy that while the Monetary Authority of Singapore (MAS) ceased issuing S$10,000 notes on October 1, 2014, existing notes remain legal tender. This incident serves as a crucial reminder that counterfeit currency continues to pose a significant threat in the region.

Consequences for Offenders

Singaporean authorities have made it clear that the repercussions for engaging in the circulation of counterfeit currency are severe. Offenders found guilty of passing off fake notes can face up to 20 years in prison and substantial fines, reflecting the government's zero-tolerance policy towards such crimes.

Public Advisory

The Singapore Police Force has urged citizens to remain vigilant and to report any unusual transactions, especially involving large denomination notes. They also cautioned the public against individuals who might offer suspicious exchange opportunities involving counterfeit currency.

Further Information

For more information on how to identify genuine Singapore currency and its security features, individuals can refer to the official MAS website, which contains valuable resources. As the situation unfolds, further updates regarding this case and related advisories may be expected. Stay alert, Singapore!