A 22-year-old Indonesian man was charged on 4 September after allegedly attempting to deposit a counterfeit S$10,000 note at a UOB branch in Clementi Avenue 3.
The accused, identified as Aurick Kenji Almira Valeryan, is said to have handed the note to a bank officer around 2pm on 15 August, despite having reason to believe it was fake.
Police said the counter staff suspected the note was counterfeit and alerted a manager.
Officers later arrested Valeryan, who is expected to plead guilty on 25 September.
If convicted of using counterfeit currency under Section 489B of the Penal Code, he faces up to 20 years in jail and a fine.
Police reiterated that offences involving counterfeit notes carry severe penalties.
These include forging, using, or possessing counterfeit notes, with punishments of up to 20 years’ imprisonment and fines depending on the charge.
The public is reminded to be cautious of individuals offering to convert or deposit large counterfeit notes.
Anyone receiving a suspected counterfeit note should contact the police immediately and handle it minimally to avoid tampering.
The Monetary Authority of Singapore provides guidance on identifying genuine security features of Singapore currency on its official website.
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