The National Bank of Ukraine continually monitors the withdrawal of counterfeited banknotes from the circulation and confirms a relatively low level of banknote counterfeiting of the domestic currency in 2017.
Thus, last year, the number of counterfeited banknotes withdrawn from the circulation in the banking system of Ukraine was 0.00036% of the total number of banknotes in cash circulation. This means there is approximately 3.6 counterfeited banknotes for one million of authentic hryvnia banknotes.
For comparison, in 2017, in EU member countries this indicator was approximately 33 counterfeited banknotes.
At the same time, results of 2017 show an increased number of cases when counterfeited banknotes of UAH 500 denomination were detected. They are mostly banknotes of 2006 year design. Their number amounts to 61% of the total number of the withdrawn counterfeited hryvnia banknotes.
Counterfeited banknotes of the following hryvnia denominations have also been withdrawn:
- UAH 200 (7%);
- UAH 100 (17%);
- UAH 50 (13%).
Other counterfeited banknotes of UAH 1, UAH 2, UAH 5, UAH 10, and UAH 20 denominations amount to 2%.
Most of the counterfeited banknotes (81%) were produced with the use of copiers or computer equipment, in particular with the use of inkjet and laser printers. The rest of the counterfeits (19%) were graphically printed.
The detected counterfeited banknotes had been distributed through fastfood restaurants, supermarkets, metro, etc. In 2017, there were cases when counterfeits got to banks’ cash desks through self-service kiosks and ATMs that accept cash.
As for the counterfeited foreign currencies, last year the majority of detected counterfeited foreign banknotes were the following:
- US dollars (78%);
- euros (16%);
- Russian rubles (6%).
The most often counterfeited foreign banknotes are the following:
- USD 100 (94%);
- EUR 200, EUR 100, and EUR 50 (40%, 21%, and 29%, respectively);
- RUR 5,000 and RUR 1,000, (71% and 21%, respectively).
In general, the hryvnia banknote security features are at the same level with the security features of the world’s most popular currencies.
At the same time, automated systems of banknote processing enable Ukrainian banks to detect counterfeited banknotes and ensure the proper quality of cash in circulation. In case of any doubts about authenticity of banknotes banks can send them to the NBU’s specialized units for examination.
Citizens are recommended to submit doubtful hryvnia banknotes to banks for further examination by the NBU. The NBU conducts the examinations free of charge. Based on their results clients are reimbursed the respective amount in the domestic currency if the cash is deemed authentic and valid for payments. Counterfeited banknotes are confiscated without reimbursement. The National Police of Ukraine is informedabout the confiscation. The counterfeits are then handed over to the authorized police officers for further investigation.
For reference
The National Bank of Ukraine, just like other central banks, constantly improves the security features of banknotes to prevent counterfeiting and to make it easier for people to identify authentic banknotes.
Thus, in 2015, the NBU issued a new banknote of UAH 100 denomination of 2014 design and, in 2016, a new banknote of UAH 500 denomination of 2015 design with enhanced security features. The following new optically variable elements with the kinematic effect are used on the banknotes:
- a wide window thread with the numeral indication of denomination and the graphic hryvnia sign - when the banknote is tilted, the background image moves in the opposite direction;
- SPARK element - when the banknote is tilted the image shows a gradual color shift from one color to another.
Please, be informed that the detailed description of all banknotes of the domestic currency in circulation and their security features can be foundat the official NBU website.