Sberbank reports stuffing of Russian ATMs with fake banknotes

Sberbank reports stuffing of Russian ATMs with fake banknotes

Employees of Sberbank have recorded several attempts to distribute counterfeit bills through ATMs in several regions of Russia.

Most of these attempts took place in the Moscow region. According to Interfax, this was reported by Deputy Chairman of Sberbank’s management Stanislav Kuznetsov during the International Financial Congress in St. Petersburg.

"There were the so-called 'glue-togethers', where ten banknotes are cut into ten parts and then glued together again, but there is now one additional bill, which is recorded on the card account, and then issued in cash," he explained.

ATM machines accepted counterfeit bills due to problems with checking of machine-readable tags on bills. According to Kuznetsov, the problem has been "fully solved" with this ATM manufacturer. Representatives of Sberbank had contacted one of the manufacturers of ATMs and agreed on the adjustment of settings.

Kuznetsov also noted that Sberbank had insurance against such cases with the Central Bank, and the bank was able to exchange almost all counterfeit banknotes in the Central Bank.

 

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