extracted from CNA.
SINGAPORE : Imagine exchanging nearly S$900 for a foreign currency,
receiving fake notes instead and in the end only getting half of
the value that is owed to you.
This was what happened to 25-year-old TODAY reporter Lee U-Wen when
he walked into a money changer at Raffles Place to get some English
pounds.
A month after the transaction, he realised the six 50-pound notes
were fakes.
Closer inspection of the suspicious notes showed they had no
watermarks; three notes had the same serial number.
When U-Wen returned to the same money changer to seek recourse, the
money changer agreed to compensate him half the original
value.
Other money changers our news team spoke to advise travellers to be
careful when exchanging foreign currency, and to inspect details
like serial numbers and watermarks.
According to Police, there were seven reported cases of counterfeit
currency involving money changers.
So what happened to the six fake notes that U-Wen returned in the
end? They were destroyed by the money changer. - CNA /ct