Watch Pretend banknotes syndicate busted in Indonesia after S$10,000 notes offered at Singapore on line casino – Singapore News

SINGAPORE: Authorities have busted a pretend foreign money syndicate in Indonesia after counterfeit S$10,000 (US$7,500) notes have been offered at a on line casino in Singapore.

4 Indonesian males have been arrested following a joint investigation by Singapore’s Business Affairs Division (CAD) and the Indonesian Nationwide Police, the Singapore Police Pressure (SPF) mentioned on Thursday (Feb 1).

SPF was alerted to the case on Sep 21, 2023 when an Indonesian couple tried to change a S$10,000 observe for on line casino chips.

When the couple was informed that the observe was pretend, the person produced one other S$10,000 observe for verification.

The 2 notes have been withheld by the on line casino and handed over to CAD for investigation. The division shared the data on the counterfeit notes with Indonesian police.

Investigations revealed that the couple had travelled from Batam to Singapore on the identical day and that the 2 notes have been acquired from their enterprise affiliate in Batam as fee for a enterprise transaction.

The couple wished to make use of the notes on the on line casino for playing, mentioned the police.

“As there was inadequate proof to counsel that the couple have been conscious that the notes they have been in possession of have been counterfeit, the police, in session with the Legal professional-Common’s Chambers, has taken no additional motion towards the couple,” they added.

RAIDS IN INDONESIA

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

Three Indonesian males, aged 39 to 48, have been arrested for his or her suspected involvement in counterfeiting and distributing banknotes.

A complete of 390 S$10,000 banknotes, suspected to be pretend, have been seized.

Indonesian police not too long ago arrested the fourth man, a 51-year-old Indonesian, SPF mentioned.

“Combatting counterfeit foreign money syndicates requires shut collaboration with overseas regulation enforcement businesses,” mentioned CAD director David Chew.

The shut collaboration between SPF and the Indonesian Nationwide Police led to the “crippling of the foreign money counterfeiting syndicate primarily based in Indonesia”, he added.

The police mentioned: “Counterfeit banknotes can probably trigger massive losses to victims and undermine the arrogance in our foreign money.

“Members of the general public are reminded to stay vigilant and to look at any notes which aren’t generally accessible however stay in circulation as authorized tender.”