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.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

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 every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more