Fake 500 UAH in Ukraine: how to recognize a counterfeit and check a banknote

A man holds an envelope with money. Photo: Novyny.LIVE

In Ukraine, attention has again turned to counterfeit banknotes with a denomination of 500 hryvnias. In the Odesa region, a man was exposed who produced 149 fake notes and tried to set up their distribution. To avoid losing money during cash transactions, Ukrainians should know how to verify a banknote’s authenticity and where to turn in case of doubts.

This is reported by Novyny.LIVE with reference to the Bureau of Economic Security of Ukraine.

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Why you should check 500 hryvnias more carefully

On 5 November 2026, the BES reported a sentence for a man from Odesa region who organized the production of counterfeit hryvnias. He used computer and copying equipment for this and involved acquaintances who were supposed to help find buyers.

In total, the man produced 149 fake banknotes with a denomination of 500 hryvnias. Detectives documented three instances of them being handed over during a controlled purchase. The illegal activity was stopped, so those notes did not enter everyday circulation among citizens.

According to the National Bank of Ukraine, in 2024, 78% of seized counterfeit hryvnia banknotes were of the 500-hryvnia denomination. At the same time, the overall level of hryvnia counterfeiting remains relatively low: there were about five counterfeits for every one million genuine banknotes.

How to check the authenticity of a 500-hryvnia note

The National Bank advises not to rely on a single checking method but to pay attention to several security features at once. No special equipment is needed — just carefully examine the banknote.

1. Check the note by touch.

A genuine banknote is made of special paper that differs from ordinary paper. On the front side you can also feel the raised relief of the portrait of Hryhorii Skovoroda, inscriptions, and certain images.

2. Hold the banknote up to the light.

On genuine 500 hryvnia notes there should be a noticeable multi-tonal watermark with a portrait of Hryhorii Skovoroda and a light element with a digital indication of the 500 denomination.

Also check the security thread. On it you should be able to see the inscription “500 UAH,” the small State Emblem of Ukraine, and the denomination marking.

3. Change the angle at which you hold the banknote.

On a genuine note of the 2015 series, the optically variable element SPARK gradually shifts color from green to blue. In addition, when tilting the banknote the direction of movement of the background image on the security thread changes.

You should check several elements at the same time. If part of the protection is missing or looks low-quality, it’s better not to accept such a note without additional verification.

What to do if you receive a fake 500 hryvnia note

If a banknote raises doubts, do not try to pay with it in a store or pass it to another person. You should go to any bank that has a cash desk and submit the note for examination to the National Bank.

Such an examination is carried out free of charge. If experts confirm the note is genuine, its value can be reimbursed according to the results of the check. If the note is found to be counterfeit, it will be seized and handed over to law enforcement without reimbursement of its face value to the owner.

Recently Novyny.LIVE reported who among pensioners may receive an additional about 1 500 hryvnias. The amount of additional payments depends on the circumstances and grounds provided by law. Therefore, pensioners should check whether they are entitled to extra money.

Novyny.LIVE also reported which work hours may cause teachers to be underpaid. It is important for educators to verify the accuracy of their pay calculations and take into account actual teaching workload. If part of the time worked was not paid for, they should find out the reason and demand proper compensation.