A 22-year-old man was arrested after he allegedly tried to deposit a counterfeit Singapore S$10,000 banknote at a Clementi branch on 15 August 2025. The incident has drawn attention as the S$10,000 note, once the world’s highest-value legal tender, is rarely seen in circulation today after being discontinued in 2014 to combat money laundering and illicit financial activities.
According to police reports, the man walked into a bank located along Clementi Avenue 3 at around 2pm and presented the large-denomination note at the counter, requesting for it to be credited into an account. The alert staff immediately grew suspicious about the authenticity of the bill and escalated the matter to the branch manager, who promptly informed the authorities. Police officers arrested the man on the spot, and the note was seized for forensic examination.
Severe Penalties for Counterfeit Currency
Investigators have since confirmed that the suspect will be charged in court for using as genuine a counterfeit currency note. If convicted, he faces a maximum sentence of 20 years in jail along with a fine. This underscores Singapore’s zero-tolerance stance towards financial crimes, especially those that threaten the integrity of the banking system.
The Singapore Police Force stressed that any attempt to pass off counterfeit money as genuine is treated with utmost seriousness. Beyond the immediate criminal penalties, such offences also erode trust in the financial system and may be linked to wider illicit networks.
Public Advisory on Fake Notes
In light of the case, the police have urged the public to exercise caution when handling cash, especially if approached by individuals offering unusually large-denomination notes in exchange for smaller sums. They also warned against attempts to deposit such notes at banks or financial institutions on behalf of others.
Members of the public who suspect they have received counterfeit notes should limit handling of the item, place it in a protective covering such as an envelope, and report it to the police immediately. Witnesses are advised to note down as many details as possible about the person presenting the note, including appearance, attire, language spoken, and any vehicles used.
This arrest serves as a timely reminder of Singapore’s strict financial regulations and the need for constant vigilance. While the S$10,000 note is now rarely seen, its legacy as a target for counterfeiters continues to linger, making it crucial for both the public and banks to stay alert.