On 2 July, Ong Chong Tee, Deputy Managing Director of the Monetary Authority of Singapore (MAS), announced, at the Financial Crime Seminar by the Association of Banks in Singapore, the 10,000 Singapore Dollar as the highest denom will no longer be produced since 1 October 2014. This resolution comes from MAS efforts to mitigate money laundering risks. As of now, this note is one of the costliest on earth with the par at about $8,000, making it very attractive for financial fraudsters.

According to the MAS rep, now with developed high security e-payments, bulk cash transactions have decreased a lot. So there's no more need for high denom issuance. MAS thinks most citizens and businesses will experience no inconveniences after the highest-denom removal. The note will remain legal tender and be accepted by all banks, retailers and service providers. It'll be withdrawn in proportion to wear and won't be recycled.