Fewer banknotes are counterfeited in 2023 – El Sol de México

In 2023, counterfeiting of banknotes in the country reached its lowest level since 2021, registering 283,979 apocryphal pieces, according to data from the Bank of Mexico (Banxico).

The figure reported by the central bank also represented a decrease of 19 percent compared to 2022 when nearly 350,828 counterfeit bills were registered in circulation.

For specialists, the decrease in banknote counterfeiting in Mexico is due to the fact that more and more businesses or people use card payments, electronic transfers, QR or any other digital method.

“This phenomenon represents a positive advance for the national economy and public safety. There are increasingly more secure banknotes, while the adoption of new technologies in businesses in the country is growing,” commented Salvador Soto, an academic at UNAM.

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In an interview with El Sol de México, the expert said that counterfeiting banknotes not only affects the national economy, but can also have negative repercussions for people who receive counterfeit bills without knowing it.

“These people not only lose the value of the note, but they may also face criminal charges if they try to use it,” he added.

According to the central bank, counterfeiting banknotes in Mexico is a federal crime punishable by up to 12 years in prison. If a person suspects the authenticity of a bill, he must take them to any bank so that they can be sent to Banxico and perform an analysis to determine their authenticity.

During the reference period, the 500 peso denomination was the most counterfeited, having 153,754 copies, its highest level since 2019, according to Banxico, headed by Victoria Rodríguez Ceja.

It was followed by the 200 peso bill, of which around 63 thousand units were counterfeited and which represented its lowest level since records were recorded in 2015.

They sell them on social networks

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On Facebook there are many publications and secret groups where lots or dozens of fake 100, 200 and 500 peso bills are offered. To circumvent the filters of this social network, the alleged counterfeiters advertise the items as “educational tickets”, “G5 tickets”, “magic tickets” or “G5 clones”.

2024-02-21 11:00:00
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