How to distinguish counterfeit money from real ones - main signs of forgery

Checking banknotes takes only a few seconds, but can protect against financial losses and liability. Funds should be carefully examined by touch, against the light, and at different angles, as modern hryvnia banknotes have over 20 security features that help distinguish real money from counterfeits without special equipment. UNN explains the main signs of counterfeit money, which banknotes are most often forged, and the penalties provided.

How to check money: main signs

Knowledge of banknote security features and their careful verification during cash payments or currency exchange operations minimize the risks of receiving counterfeits.

In general, the security features present on hryvnia banknotes, which are over 20 on each, make it possible to reliably detect counterfeits. This can be done without special equipment, through visual and tactile checks.

By touch - the banknote paper is checked; it differs from ordinary paper, and the relief is checked due to the thick layer of paint on certain images on the front side of the banknote, which is ensured by a special type of printing. 

Against the light, the following are visually checked:

• the presence of watermarks - a multi-tone watermark - a portrait image that repeats the portrait printed on the front side of the banknote, and a light element of the watermark - an image of the digital denomination designation or the graphic symbol of the national monetary unit of Ukraine - the hryvnia;
• the presence of a see-through element (combined image) - a fragmentary image of the digital denomination designation, made on the front and back sides, acquires a complete appearance without breaks or shifts when viewing the banknote against the light;
• the presence of a security thread completely embedded in the paper thickness, on which, when viewing the banknote against the light, you can see in direct and inverted form the image of the digital denomination designation, the inscription "HRN" and the image of the small State Emblem of Ukraine.

By changing the angle of the banknote, the following are visually checked:

• images made with optically variable inks that change color when viewing the banknote at different angles (on banknotes of 20 hryvnias of the 2018 model and 50 hryvnias of the 2019 model) and have a kinetic effect of gradual transition from one color to another (the SPARK element is present on banknotes of 100, 200, 500 and 1000 hryvnias of the 2014–2019 models);
• "windowed" (partially embedded in the paper thickness) polymer security thread of the corresponding color (on banknotes of 100 hryvnias of the 2014 model - brown, 200 hryvnias of the 2019 model - blue, 500 hryvnias of the 2015 model - dark gray, 1000 hryvnias of the 2019 model - purple).

When changing the angle of the banknotes, a pronounced kinetic effect of changing the direction of movement of the background images of the thread is observed. Latent image of the digital denomination designation, visible when viewing the banknote at eye level against the light at an acute angle (dark on a light background when viewing the banknote from the long side, light on a dark background from the short side).

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Counterfeiting money in Ukraine: which banknotes are most often forged

According to the National Bank of Ukraine, the level of counterfeiting of national currency banknotes in 2025 decreased threefold compared to 2024.

At the end of last year, there were about 1.7 counterfeit banknotes per 1 million genuine hryvnia banknotes. This is the lowest figure since the start of the full-scale russian invasion of Ukraine. In 2024, it was about 5.1 counterfeit banknotes.

In 2025, counterfeit banknotes of two denominations were most often withdrawn from circulation:

• 500 UAH (80% of the total number of seized counterfeits);
• 200 UAH (13%).

Counterfeit banknotes of denominations 20, 50, 100 and 1000 UAH withdrawn from circulation accounted for only 7%. Last year (as in 2021–2024), hryvnia banknotes of the old model (2003–2007) were most often counterfeited, in particular 500 hryvnias of the 2006 model.

According to the results of 2025, counterfeits of modern generation hryvnia banknotes (models 2014–2019) account for only 10% of the total number of counterfeits seized in the banking system of Ukraine. Accordingly, last year the number of counterfeit new model hryvnia banknotes per one million genuine banknotes in circulation was only 0.2 pieces.

For the most part, these counterfeit banknotes were of low quality and were designed for the inattention of citizens and cashiers of trade establishments.

This is due to the fact that modern generation national currency banknotes, in particular denominations of 100, 200, 500 and 1,000 hryvnias, which the National Bank put into circulation in 2015–2020, have an improved design and enhanced security system and are not inferior in design and security to euro banknotes of the "Europa" series and US dollar banknotes of the "New Generation" series.

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What to do if you are given counterfeit money

If citizens have doubts about the authenticity and solvency of hryvnia and foreign currency banknotes, they can contact banks, which transfer these banknotes for research to the National Bank.

Based on the results of such research, which is carried out free of charge, clients are reimbursed the corresponding amount of national currency banknotes recognized as genuine and solvent. Foreign currency banknotes recognized as genuine, regardless of the degree of wear or damage, are returned to the initiator of the research.

Counterfeit banknotes are seized without compensation for their value. The National Bank notifies law enforcement agencies of their seizure, and all counterfeit banknotes are transferred in the prescribed manner to their authorized employees for investigations.

Punishment for manufacturing and facilitating the circulation of counterfeit money

According to the Criminal Code, the manufacture, storage, acquisition, transportation, sending, import into Ukraine for use in the sale of goods, sale, as well as the sale of illegally manufactured, obtained or counterfeit excise tax stamps, holographic security elements, counterfeit national currency of Ukraine in the form of banknotes or metal coins, foreign currency, state securities existing in paper form or state lottery tickets - are punishable by imprisonment for a term of three to seven years.

For the above actions committed repeatedly or by prior conspiracy by a group of persons or on a large scale - are punishable by imprisonment for a term of five to ten years with confiscation of property.

Also, for the specified actions committed by an organized group or on an especially large scale - are punishable by imprisonment for a term of eight to twelve years with confiscation of property.

Note, a "large scale" is considered if the counterfeits exceed the non-taxable minimum income of citizens by two hundred or more times, i.e., 332.8 thousand hryvnias.

On an "especially large scale" - if the amount of the counterfeit exceeds the non-taxable minimum income of citizens by four hundred or more times, i.e., 665.5 thousand hryvnias.

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