Saturday, March 03, 2012

Laundering money

We know laundering money is illegal and that for those caught with the offence, they are likely to face stiff penalties. But what about literally putting your cash into the washing machine?

According to the following complaint in The Star, whilst it is legal, you might not be able to use them and even the authorities might not be able to help...

Next time better double check your pants and shirt pocket and make sure no new RM50 bank notes in them before throwing them into a washing machine.

The Star

By JOSHUA FOONG
PETALING JAYA: A mechanical engineer had RM200 literally “washed away” when the print on his new RM50 notes disappeared after he accidentally left his wallet in the laundry.
Yeoh Jit Shiong, 25, was shocked to find that the damaged notes were almost unrecognisable on Saturday evening.

What remained were the security threads and watermarks.

Faded notes: The four new RM50 notes that were decolourised after they were left in the washing machine by mistake.

“The printing was completely washed off, including the serial number.
“What’s surprising is that an old RM50 note that got washed along with the new notes wasn’t damaged at all,” said Yeoh.
“If an old RM50 note can withstand being in a washing machine, why not the new RM50 note, which is supposed to be an improved, upgraded version?” he asked.
Yeoh had withdrawn RM300 in RM50 notes from an ATM in USJ earlier in the day.
He said the notes from the ATM were new and genuine.
“I used RM50 to pay the cashier at a petrol station, who validated it with a bank-note detector.
“With the serial numbers washed off, how am I going to take the notes back to the bank for an exchange?”

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