06 December 2018

Moneychangers Investigated For Possession Of Counterfeit Myanmar Currency Notes

The Police are investigating into a number of moneychangers for their suspected involvement in the possession of counterfeit Myanmar currency notes in the denomination of 10000 kyats.

On 29 November 2018, the Police received a report that two Singaporeans had been arrested for allegedly using counterfeit kyat notes in Yangon. The Singapore Embassy in Yangon is in direct contact with the arrested Singaporeans and is rendering consular assistance.

Preliminary investigation revealed that the two Singaporeans obtained the counterfeit kyat notes from a moneychanger in Singapore. A raid was conducted at the said moneychanger and counterfeit 10000 kyat notes with same serial numbers starting with “AG” and “AE” were found. Subsequent raids were conducted at 17 other moneychangers in Singapore between 3 and 4 December 2018 and similar counterfeit kyat notes were found.

Investigations are ongoing. Anyone who is convicted for using as genuine counterfeit currency notes shall be punished with an imprisonment term which may extend to 20 years, and shall also be liable to a fine. Anyone who is convicted for possessing as genuine counterfeit currency notes shall be punished with an imprisonment term which may extend to 15 years.

Members of the public are reminded to be vigilant and to examine any kyat notes with same serial numbers starting with prefixes “AG” and “AE”.

Members of the public, including moneychangers, who suspect that they have received a counterfeit Myanmar currency note are advised to adopt the following measures:

  • Report it to the nearest Neighbourhood Police Centre;
  • If there is a presenter, please delay him/her, if possible. Call the Police at '999' immediately;
  • Observe the presenter's descriptions, such as gender, race, age, height, built, clothing, tattoo, language/dialect spoken as well as that of any companions;
  • Note the vehicle registration number of the presenter (if any); and
  • Limit the handling of the suspected note and place it in a protective covering, such as an envelope, to prevent further tampering. Hand it over to the Police immediately.

06 December 2018 @ 7:00PM

Last Updated on 07 December 2018