How Do Counterfeit Notes Get Into Circulation?
For every 6,000 genuine notes, 1 of them is counterfeit. (Source: BBC The Real Hustle)
We were warned about the circulation of counterfeit notes by the Singapore Police.
(Scroll down to read about the things to look out for to check on the authenticity of the $1,000 portrait series note.)
Aside from being alert and knowing what to look out for, one question remains. How do these notes get into circulation in the first place? What should we, as civilians, look out for to prevent such things from happening?
Watch this video to see how a conman slyly circulates a counterfeit note without even the careful cashier knowing! Shopkeepers, beware!
Do not dispose of a counterfeit note should you ever come across one. Hand it to the local police station to aid in their investigation and eventual apprehension of the conmen.
Different counterfeit notes have different features, however this particular $1,000 Portrait series note the Police is looking out for has: -
Different counterfeit notes have different features, however this particular $1,000 Portrait series note the Police is looking out for has: -
- a 9-character alphanumerical identification reference ‘2AB6585xx’
- Simulated security features including a watermark, kinegram and security-thread
- Waxy surface unlike the tactile feel on genuine notes