Counterfeit money has 3 month life span

The bulk of counterfeit money in Russia comprises 100 ruble and 500 ruble notes, Vladimir Martynov, chief of the Interior Ministry's expert criminalistics center, said at a press conference.

"It is more difficult to pass large denominations because banks and other organizations dealing with cash pay special attention to them," he said. "And the sale of small denominations is unprofitable." Mr. Martynov added that even 10, 50 and 100 ruble notes were counterfeited.

He said the greatest number of counterfeits were American dollars. According to the Central Bank's data, there are about 400 billion rubles now in circulation in Russia. Annually, 15,000-20,000 counterfeit notes are found. The "life" of counterfeit money is no longer than three months because all bank notes undergo an automatic check for authenticity every three months.

A Central Bank representative said at the press conference that the percentage of counterfeit euros is 100 times higher than Russian rubles.

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Author`s name: Editorial Team