Last Updated on 2023-08-01 , 12:56 pm
A woman accidentally threw away $14,000 cash that her husband had hid in his old clothes.
And no, it isn’t monopoly money. It’s real, legal tender.
Here’s how it happened.
A deep pocket
Last Friday (30 Sep), the woman was going through her husband’s closet (spring cleaning season is here already?!) and decided to throw out the older pieces of clothing.
The woman had disposed of her husband’s old pieces of clothing beside a dustbin below their residence, oblivious to the fact that among the clothes thrown out was a long-sleeved shirt with $14,000 cash in its pocket.
The woman’s husband expressed his disappointment with this incident.
He said that he had started to collect $1,000 notes since some time ago, and continued doing so even when the Monetary Authority of Singapore (MAS) announced in 2021 that it would be discontinuing the issuance of $1,000 notes.
Wah, the $1,000 notes now limited edition leh.
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Plans for the discontinuance of $1,000 note issuance was announced by MAS in an effort to pre-empt money laundering and terrorism financing risks. The move is aligned with international norms, as other major jurisdictions have already stopped issuing such large denomination notes.
Large denomination notes allow individuals to carry large amounts of money and still fly under the radar, facilitating money laundering and other illicit activities.
Existing $1,000 notes in circulation remain as legal tender and can continue to be used as means of payment. It is estimated that there continues to be approximately 26 million $1,000 notes in circulation.
So, 26 million more $1,000 notes for this man to collect.
Even after the discontinuance of $1,000 notes issuance, the man continued collecting the coveted notes in hopes that the value of the notes would increase. If any of his friends had $1,000 notes at the time, he would get the notes from his friends in exchange for $1,000 in smaller denomination notes.
Truly a born and bred kiasu Singaporean.
He also added that he initially kept the money in his shirt pocket as he was concerned about the risk of being robbed.
Having left the money inside the shirt pocket for such an extended period of time, it had completely slipped his mind. He was also not aware that his wife was about to clear the old clothes out of his closet.
The man has since made a police report and this incident is currently still under police investigation.
He noted that with multiple scavengers in the area, hopes aren’t exactly very high in relation to his chances of recovery.
The police report was also put up at the void deck, in hopes that any member of the public with information will come forward to extend help.
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