Money Changer at Raffles Place are Cons.....
Be warned.I think it's at the Arcade. You have been notified.
Time is GMT + 8 hours
Posted: 13 December 2005 1956 hrs
Beware of fake notes from money changers
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
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