Number of counterfeit banknotes keeps growing - National Bank of Ukraine
MOSCOW. Feb 19 (Interfax) - The National Bank of Ukraine observed a moderate growth in the number of counterfeit national currency banknotes in 2024, when about 5.1 counterfeit hryvni were found per 1 million real hryvni, versus 2.1 and 2.2 in 2023 and 2022, respectively.
"The increase in counterfeiting hryvnia banknotes in 2024 was due to the intensified criminal activity after adaptation to the realities of martial law and the desire to test the effectiveness of banking and law enforcement systems in countering such cases," Ukrainian media cited the bank press release.
The bank said it was in control of the situation with counterfeit national currency banknotes, which does not pose a threat to the national economy.
Same as in previous years, old-style banknotes were counterfeited most often in 2024, the bank said. The lion's share of counterfeits withdrawn from circulation were banknotes of two denominations: UAH 200 (18% of the total) and UAH 500 (78%). Accordingly, counterfeit banknotes of other denominations accounted for 4% of the total.
The bank also said that counterfeit hryvnia banknotes of the new design accounted for 5.5% of all counterfeits withdrawn from circulation last year: their number stood at 0.3 per 1 million genuine banknotes.
"The counterfeit national currency banknotes were mostly of low quality and designed to take advantage of the inattention of citizens and cashiers at retail outlets," the bank said.
The low level of seizure of counterfeit foreign currency banknotes observed in 2022-2023 almost returned to the 2021 level by the end of 2024, the bank said. Among the counterfeits withdrawn from circulation last year, U.S. dollars predominated (93% of the total number of counterfeit foreign currency banknotes seized), while euros accounted for 7%.
Most frequently counterfeited foreign banknotes were $100 and $50 (90% and 9% of the total number of seized counterfeit U.S. dollars), as well as 200, 100 and 50 euros (35%, 25% and 21% of the total number of seized counterfeit euros, respectively).
