Singaporean Indonesian authorities dismantle counterfeit currency syndicate

Following the discovery of fake S$10,000 (US$7,500) notes at a Singapore casino, the Indonesian National Police and Singaporean officials collaborated to break up a counterfeit money network in Indonesia.

According to a statement issued by the Singapore Police Force (SPF) on Thursday, February 1, four Indonesian nationals were placed under arrest after a collaborative investigation by the Indonesian National Police and Singapore’s Commercial Affairs Department (CAD).

An Indonesian couple attempted to trade a S$10,000 note for casino chips on September 21, 2023. The event was reported to the SPF. After verification, it was found that the note was fraudulent. Subsequently, the pair presented another S$10,000 note, which turned out to be counterfeit as well. The casino kept both notes and sent them to CAD for further examination. After then, CAD sent information on the fake notes to the Indonesian government.

Following an investigation, it was discovered that the two had left for Singapore on the same day after receiving the two fictitious notes as payment from a Batam-based business colleague. According to investigators, the two planned to use the fictitious banknotes to gamble at the casino.

Following consultation with the Attorney-General’s Chambers, it was decided not to pursue any more legal action against the couple due to the lack of adequate evidence proving their knowledge of the notes’ counterfeit nature.

Indonesian police carried out three searches in the provinces of West Java and Riau between November 15, 2023, and November 20, 2023. Three males from Indonesia, ranging in age from 39 to 48, were arrested on suspicion of creating and distributing fake money. During the searches, 390 claimed counterfeit S$10,000 notes were found. The fourth suspect, a 51-year-old Indonesian male, was just taken into custody by Indonesian authorities.

David Chew, the Director of CAD, stressed that working with overseas law enforcement organizations is necessary to battle counterfeit money syndicates. He applauded SPF and the Indonesian National Police for dismantling the network of those who counterfeit money in Indonesia.

The police stressed the possibility for huge financial losses and a loss of faith in the currency as a result of counterfeit banknotes, and they urged the people to be attentive and thoroughly scrutinize any notes that are not immediately accessible but are still in circulation as legal tender.

Original story by: Channel News Asia