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Fake banknotes syndicate busted in Indonesia after S$10,000 notes presented at Singapore casino

Fake banknotes syndicate busted in Indonesia after S,000 notes presented at Singapore casino


SINGAPORE: Authorities have busted a fake currency syndicate in Indonesia after counterfeit S$10,000 (US$7,500) notes were presented at a casino in Singapore.

Four Indonesian men were arrested following a joint investigation by Singapore’s Commercial Affairs Department (CAD) and the Indonesian National Police, the Singapore Police Force (SPF) said on Thursday (Feb 1).

SPF was alerted to the case on Sep 21, 2023 when an Indonesian couple attempted to exchange a S$10,000 note for casino chips.

When the couple was told that the note was fake, the man produced another S$10,000 note for verification.

The two notes were withheld by the casino and handed over to CAD for investigation. The department shared the information on the counterfeit notes with Indonesian police.

Investigations revealed that the couple had travelled from Batam to Singapore on the same day and that the two notes were received from their business associate in Batam as payment for a business transaction.

The couple wanted to use the notes at the casino for gambling, said the police.

“As there was insufficient evidence to suggest that the couple were aware that the notes they were in possession of were counterfeit, the police, in consultation with the Attorney-General’s Chambers, has taken no further action against the couple,” they added.

RAIDS IN INDONESIA

Indonesian authorities conducted three raids in Riau and West Java provinces between Nov 15, 2023 and Nov 20, 2023.

Three Indonesian men, aged 39 to 48, were arrested for their suspected involvement in counterfeiting and distributing banknotes.

A total of 390 S$10,000 banknotes, suspected to be fake, were seized.

Indonesian police recently arrested the fourth man, a 51-year-old Indonesian, SPF said.

“Combatting counterfeit currency syndicates requires close collaboration with foreign law enforcement agencies,” said CAD director David Chew.

The close collaboration between SPF and the Indonesian National Police led to the “crippling of the currency counterfeiting syndicate based in Indonesia”, he added.

The police said: “Counterfeit banknotes can potentially cause large losses to victims and undermine the confidence in our currency.

“Members of the public are reminded to remain vigilant and to examine any notes which are not commonly available but remain in circulation as legal tender.”



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