Monday, October 4, 2010

Two Men Arrested For Allegedly Using Counterfeit Singapore Currency

Police have arrested two men who are believed to have printed and used counterfeit Singapore currency as payment to retail outlets and taxi-drivers in various parts of Singapore.

In recent months, Police received several reports that counterfeit Singapore currency notes in $10 and $50 denominations had been used as payment for goods and services in various parts of Singapore. Following extensive investigations by officers from the Commercial Affairs Department (CAD), the two suspects were arrested on 22 September 2010 in connection with the case. In the course of investigations, CAD also recovered a colour printer cum copier, believed to have been used in the counterfeiting process, together with other incriminating paraphernalia.

Both suspects, aged 31, will be charged in Court on for conspiracy to use as genuine counterfeit currency under Section 489B read with Section 109 of the Penal Code, Chapter 224. Anyone convicted for this offence can be punished with imprisonment for a term which may extend to 20 years and shall also be liable to a fine.

Director of the Commercial Affairs Department, Mr. Ong Hian Sun, commended his officers and added, “Police will not hesitate to take stern action against the perpetrators of such crimes.”

According to Monetary Authority of Singapore (MAS):

It is important for the public to be aware of the security features incorporated in genuine currency notes and to be able to distinguish between genuine and fake notes.

The security features incorporated in the genuine notes provide for visual identification and authentication both by eye and by machine. Do not rely on a single security feature, instead check several security features  during authentication. If in doubt, compare the suspected note with one of the same denomination that you know is genuine.

There are usually easily detectable differences between a genuine note and a counterfeit one.

  • Genuine paper does not reflect UV light and therefore does not glow when exposed to that light. The intaglio print gives the note the tactile feel of raised print.
  • A counterfeit note is usually printed on lower quality paper and has a smooth and waxy feel. The paper also usually glows under UV light.
  • The watermark  on a counterfeit note is clearly visible without requiring the note to be held against the light. It lacks the three-dimensional effect.
  • The micro-lettering is not present in a counterfeit note.

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