Bulgaria is experiencing the biggest boom in counterfeit banknotes in 15 years, according to data from the Bulgarian National Bank. In recent months alone, hundreds of counterfeit leva banknotes have been seized, and the trend is upward. On the air of “Your Day“ on NOVA NEWS, investment gold and silver expert Ivan Mutafchiev explained the reasons for this and how citizens can protect themselves from fraud.
“I assume that there is currently a boom in counterfeit leva banknotes, since they must be used before January 1, when Bulgaria enters the eurozone. After that, the counterfeits will only be able to be exchanged through the Bulgarian National Bank or other official institutions, where they will be immediately detected as fake," Mutafchiev said.
He added that it is currently much easier for counterfeit leva to enter the retail network, as people still pay with them daily. "Now is the time when they can be put into circulation - after the euro this will become impossible," the expert commented.
According to him, there is indeed an increase in the number of counterfeit banknotes, but not to such an extent as to cause panic.
„Yes, there is a growing trend, for sure. How much more than before - it cannot be said exactly. But counterfeits are not widespread, they are simply discovered more often due to the increased control“, explained Mutafchiev.
In the studio, the expert demonstrated a special device for checking banknotes and showed the main security features by which anyone can distinguish an original from a counterfeit.
“The first thing that financial institutions check is the UV elements, which glow under a special lamp. Something that many counterfeits do not have is the serial number, which on real banknotes also reacts to UV light“, he explained.
In addition, Mutafchiev emphasized that the average person can orient themselves without special equipment. “When the banknote is held up to the light, the paper becomes thinner and the image of the portrait becomes visible. In real banknotes, this is a real thinning, while in fake ones it is simply drawn and it seems unnatural“, he explained.
“Original banknotes have a tangible relief – the letters, numbers and portraits are slightly convex. The paper is rougher and feels different to the touch. In fake ones, it is smoother, it looks like an ordinary white sheet for drawing. This is one of the easiest checks“, explained Mutafchiev.
He added that holographic elements are also crucial. “Counterfeiters often do not pay attention to the back of the banknote, where there is a holographic thread. In originals, it refracts light in a specific way, while in fakes it looks like a sticker“, the expert specified.
Checking the euro too – the principle is the same
After the demonstration with leva banknotes, Mutafchiev also showed the security features of euro banknotes: “There are two issues of the euro, but the principles are the same. The most important is the watermark, which is a transparent part of the paper. There are also holograms that reflect light, change color and show different symbols – for example, the number 100 or the euro sign“.
He added that when illuminated with a UV lamp, the stars of the EU flag glow, as well as some circular elements, which also confirm authenticity.