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Source: https://mustsharenews.com/fake-notes-singapore/ Fake S$50 notes allegedly circulating in Singapore Concerns have been raised over counterfeit S$50 notes reportedly circulating in Singapore, following a series of social media posts. One such post, shared on 8 Sept, featured two side-by-side images of S$50 notes — one genuine and the other counterfeit. The main difference between the two notes was the absence of the kinegram, the octagonal foil on the front of the note, which serves as a key security feature on genuine notes. Other than this, the two notes appeared nearly identical. Retailers taking extra precautions Some retailers have already been affected by these counterfeit notes. When Shin Min Daily News spoke to stallholders, many shared that they were aware of the issue and had been extra cautious when handling cash. Mr He, a 53-year-old grocer in Toa Payoh who has been in business for over 20 years, said he believed most vendors could spot a counterfeit note by touch as they handle cash regularly. “I’ve heard of colleagues who’ve encountered fake notes, but they were able to identify them on the spot,” he shared. Meanwhile, Ms Huang, owner of Crante Money Changer at Chinatown Complex, noted that counterfeiters typically target currencies with a larger global circulation, such as the United States (US) dollar or Chinese yuan. She added that counterfeiters are less likely to focus on the Singapore dollar, which is not as widely used internationally. “The ultimate goal of counterfeit syndicates is to profit, so they tend to print currencies that are more widely circulated,” she explained. Fake Singapore notes rare, but a serious concern In response to MS News’ inquiries, a spokesperson from the Monetary Authority of Singapore (MAS) said that they are “aware of a few social media posts claiming that retail outlets have received counterfeit Singapore S$50 notes”. While instances of counterfeiting remain rare, the spokesperson emphasised the importance of public vigilance and advised people to familiarise themselves with the security features built into every note. “The notes shown in the posts appeared to be missing the kinegram,” the spokesperson explained. “It is possible for the kinegram of very old notes to be worn out due to wear and tear. Such notes would be deemed unfit for public use and are removed from circulation when they are returned by banks to MAS.” Other features, such as the watermark, security thread, and microprints, are more durable and can be used to verify the authenticity of a note. How to check your cash MAS recommends using the Look-Tilt-Feel method to verify notes. Further details about each security feature can be found on the MAS website. While authorities stress that Singapore’s counterfeiting rate is “low”, they remind the public that complacency is risky. The MAS spokesperson highlighted that possessing or using counterfeit notes as genuine currency is a “serious” offence. Anyone convicted of using counterfeit currency notes will face imprisonment and a fine.