Following news about the modernization of five thousand ruble banknotes, residents of Moscow and the surrounding region began reporting waves of scam calls urging an urgent exchange of old notes for new ones. This warning came from Alexey Potekhin, who leads the Information Protection Department at the Main Directorate of the Central Federal District of the Bank of Russia, as noted to socialbites.ca.
He explained that scammers often claim the familiar five-thousand ruble notes will stop being used in everyday transactions and insist on acting immediately. In these schemes, scammers pose as officials from the Central Bank or social services. They politely propose that a person prepare all savings for a quick exchange at a prearranged time when the supposed procedure can be completed.
The ruse usually ends with the victim handing over the funds in exchange for a receipt, with assurances that the inspectors will verify everything and return the “new banknotes” later. If the money is exchanged during the meeting, the victim loses both the old and the supposed new notes. In some cases, counterfeit notes are introduced during the interaction, leaving the person with nothing real in hand.
According to Potekhin, there is no forced exchange currently, and there will not be one in the near future. He noted that even if updated notes with a five-thousand-ruble denomination were prepared, they would not be circulated immediately. The process of adapting equipment to accept and print new banknotes takes time; if configured, such notes would appear in circulation gradually. Even then, they would be used alongside the existing notes, much like the current 1997 model in use today.
The expert added that ordinary replacement of some banknotes with others occurs naturally due to wear and tear, a process expected to unfold over more than a year.
Bank of Russia officials remind the public that to reliably verify banknotes, at least three security features should be checked. These features can be identified by light, by touch, and by varying the viewing angle.
For example, with the new five-thousand-ruble note, the watermark becomes visible when held up to light. It appears in a light area on the right side of the bill, with smooth transitions from light to dark, and it features a well-lit image of the Main Post Office building along with a prominently dark number “5000.”
Tilting the note reveals a color-changing element and hidden denomination numbers. On the front, in a flat area bearing the word “RUSSIA,” the digits of the denomination appear in different colors and are visible only at a narrow angle. Rotating the note 180 degrees while keeping the viewing angle constant changes the color of each digit.
Touch verification reveals inscriptions such as “BANK OF RUSSIA TICKET,” “FIVE THOUSAND RUBLES,” a digital denomination designation, and the raised edges along the perimeter of the note.
The Central Bank of the Russian Federation introduced the modernized five-thousand-ruble notes for circulation on October 16, 2023. The public is urged to remain vigilant and use the standard checks described above to confirm authenticity when handling currency. These practical steps help reduce the risk of fraud and ensure confidence in everyday transactions. (Source: Bank of Russia)
In retrospect, reports from 2023 show significant losses to fraudsters targeting Russians’ bank accounts, underscoring why authorities stress prudence and verification during any currency exchanges or suspicious payment requests. This context helps explain the careful approach the Bank of Russia advocates for during any potential future updates to banknotes. (Source: Bank of Russia)