Man arrested in Singapore for attempting to deposit counterfeit $10,000 note
A 36-year-old man has been arrested for attempting to deposit a counterfeit $10,000 note at a bank on Upper Cross Street.
The incident, which occurred on December 23, 2024, saw the man trying to deposit the fake currency into his bank account.
The alert bank staff quickly flagged the suspicious bill, leading to the involvement of local police and the man’s arrest.
The Monetary Authority of Singapore (MAS) stopped issuing $10,000 notes in 2014, though existing notes remain valid.
Despite this, large denomination notes like the $10,000 continue to attract attention from fraudsters attempting to pass off counterfeit bills as legitimate.
Passing counterfeit money in Singapore is a serious offence.
The police warned that attempting to use or deposit fake currency could result in severe consequences, including a maximum 20-year prison sentence and a hefty fine.
The counterfeit note was seized and is under investigation, while the suspect is set to be charged later this week.
Authorities are reminding the public to be extra cautious about individuals who may try to exchange large denomination counterfeit bills, such as the $10,000 note, for genuine smaller currency.
The police have specifically cautioned against scammers who offer to assist in converting or depositing fake notes into bank accounts.
MAS also advises people to familiarise themselves with the security features of real currency, which are available on their official website.