The man who robbed a Western Union remittance outlet in Ubi Avenue 1 on Tuesday (Aug 1) at around 10.50am has been arrested.
The suspect, a 56-year-old Singaporean, was apprehended at Pasir Ris Drive 6 on Aug 3, at 10.35pm.
It was earlier reported that the man, who was wearing a face mask, had entered the bank armed with a knife, demanded money from an employee and then fled.
According to The Straits Times, about $4,000 was handed to him before he made his getaway on a bicycle. However, he dropped some of the money during his escape and got away with an amount of $1,071.
More than 130 officers were involved in tracking the robber down, said the police.
Besides combing CCTV footage from public and police cameras to establish his identity, they also went door-to-door in the surrounding estate.
A red bicycle, four 4D tickets, black shoes, dark blue trousers and a green face mask were recovered from the suspect, but no cash was found.
Preliminary investigations showed that he spent almost all the money, including on 4D tickets.
Meanwhile, police are still trying to locate the knife and white helmet.
If convicted of armed robbery, the man is liable to a jail term between two and 10 years, and at least 12 strokes of the cane.