Support The Moscow Times!

ATMs Won't Accept Deposit of 5,000-Ruble Notes

Major banks in Moscow have stopped accepting 5,000-ruble bills through their ATMs because a high volume of counterfeits that evade electronic detection are in circulation.

Sberbank, VTB 24, Bank of Moscow and Alfa Bank have all suspended or restricted acceptance of 5,000-ruble notes in Moscow and the Moscow region. Alfa Bank said its restriction concerns only 5,000-ruble bills issued in 1997, which are apparently the easiest to counterfeit.

The ATMs will start taking the notes again once their detection software is updated, the banks said in separate statements, without specifying how long this might take.

The Central Bank said that the 5,000-ruble bill was the most frequently counterfeited note in the last quarter of 2012, when more than 12,000 counterfeit notes were seized, Noviye Izvestia reported Friday.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more