The number of counterfeit banknotes has increased sharply in Ukraine: how to avoid becoming a victim of fraudsters
The National Bank of Ukraine has reported a significant increase in the number of counterfeit hryvnia banknotes. Most often, fraudsters imitate banknotes in denominations of 500 and 200 hryvnia. At the same time, the NBU emphasizes that the level of counterfeiting remains controlled, and knowledge of the security features allows you to distinguish counterfeit from real money without special equipment.
This was reported by the NBU press service.
According to the NBU, there were about 5.1 counterfeit banknotes per 1 million genuine banknotes . This is more than in 2022–2023, when the figures were record low due to the peculiarities of martial law, but less than in 2021 (7.1 counterfeit banknotes per million).
For comparison: in the European Union, this figure in 2023 was 16 counterfeit euro banknotes per million — three times higher than in Ukraine.
The most counterfeited were:
- 500 hryvnias — 78% of all counterfeits;
- 200 hryvnias — 18%.
The remaining denominations (1, 5, 10, 20, 50, 100 and 1000 UAH) together accounted for only 4%.
The peculiarity remains that fraudsters mostly imitate old banknotes. The new money, which was issued in 2015–2020, is much more difficult to counterfeit thanks to enhanced protection. In 2024, it accounted for only 5.5% of counterfeits.
How to recognize counterfeit money?
The NBU reminded that most of the security features on Ukrainian banknotes can be checked independently – without special devices.
- To the touch : a real banknote has embossed elements that can be felt with your fingers (portrait, inscription “Ukraine”, denomination).
- Against the light : the watermark (portrait and denomination number), a through element, and a protective strip with the inscription “ГРН” and a trident are visible.
- From different angles : a kinetic color-changing effect ( SPARK element) appears on medium and large denomination banknotes, and a “window” security tape demonstrates the movement of images.
- Latent image : The hidden denomination is visible at a sharp angle when the banknote is held up to the light.
The National Bank emphasized that genuine hryvnias have over 20 security features, and even simple attentiveness allows you to detect most counterfeits.
In case of suspicion of counterfeiting, citizens can contact banks. The banknotes are transferred to the NBU for examination. If the banknote is genuine, its value is reimbursed, but if it is counterfeit, it is seized without compensation, and the information is passed on to law enforcement.
A similar trend is observed with dollars and euros. The most counterfeited bills were the 100-dollar bills, while the 200, 100, and 50-dollar bills were the most counterfeited among euros.
The NBU urged that currency should be purchased exclusively at licensed exchangers or banks, as counterfeits are most often distributed “from hand to hand” and through unofficial channels.
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