After yet another case of counterfeit euro banknotes worth a remarkable 1.2 million, the topic of payment security has once again come to the fore. On NOVA, financial expert and owner of a currency exchange company Max Baklayan explained that the risk for ordinary people remains real, especially when making everyday purchases and receiving change.
“It is much easier for a random citizen to be deceived at the moment“, he emphasized. Baklayan gave an example of how people often end up in the financial institution who did not even realize that they had received counterfeit money: “In most cases, they are citizens who in no way understood that they had allowed such a euro to be returned to them“.
However, the expert pointed out that at the moment there is no clear increase in the number of counterfeits detected. He specified that this does not mean a lack of such in circulation, but rather that they do not reach exchange offices in larger volumes.
Baklayan also gave specific advice on how to recognize counterfeit banknotes: “The first thing you need to do is touch the paper“, he explained, emphasizing the difference in the feeling - the real euro has a specific polymer structure. It is also important to check the embossed elements: “There are cilia on the side of the banknote, the relief of which you will feel when you touch it, while in counterfeits they are often only drawn”. Another sure sign is the watermark or the so-called “view register“, which is visible against light, as well as holographic elements and changing light and shadow.
According to him, counterfeits are rarely perfect, since “the printing machines of counterfeiters are not that high-end“. The law does not require merchants to have verification devices, but large establishments already have them.
The expert advises people to take a few seconds to check, because this significantly reduces the risk of fraud.