Counterfeit Money in Ukraine: Which Banknotes Are Most Commonly Forged and How to Spot Them

Counterfeiters have become more active in Ukraine — here’s which banknotes are most often faked and how to recognize a counterfeit.

Recently, cases of counterfeit money have become more frequent in Ukraine. According to experts, there are two denominations that fraudsters most commonly forge — and people should be especially cautious with these, reports Politeka.

Olena Korobkova, Chair of the Board of the "League of Banks of Ukraine," explained that counterfeit 200 and 500 hryvnia banknotes are the most often found in circulation.

The reason is simple: these banknotes are widely used for transactions and are relatively easy to counterfeit. However, the expert notes that the overall number of counterfeit bills in circulation currently does not pose a serious threat.

Modern technology has made the job easier for counterfeiters — thanks to accessible printers, they can produce fakes that are hard to distinguish by eye.

For this reason, Ukrainians should pay close attention to the tactile security elements on real banknotes — these features can be felt by touch.

Extra caution is advised when making purchases at markets, kiosks, or retail points with questionable reputations. It’s also best to avoid exchanging money at unlicensed exchange offices, as this increases the risk of encountering counterfeit currency.

How to protect yourself from counterfeit hryvnias: Practical tips

Use cashless payments: Paying with a card helps avoid the risk of receiving counterfeit bills as change.

Check banknotes with a portable detector: If you often shop at markets or in high-risk areas, this device can be a valuable tool.

Avoid breaking bills for strangers: People may try to pass off counterfeits under the pretense of needing change.

Exchange currency only at banks or official exchange points: This significantly reduces the chances of getting fake money.

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