A major crisis related to counterfeit dollars has erupted in Turkey

Representatives of banks and exchange offices, as well as merchants in Istanbul's "Grand Bazaar" (Kapalı Çarşı) stopped accepting $50 bills and old white $100 bills. This is due to the difficulty of determining the authenticity of banknotes even when using special equipment.

Mustafa Yunver, board member of the Turkish Currency Exchange Association (TÜYEMDER), said the software of money counters and ATMs should be updated to deal with the detection of such counterfeits.

"We have temporarily suspended transactions with $50 and white $100 notes to avoid misunderstandings and protect citizens from financial losses. The software update is expected to take approximately 7-10 days,” Unver said.

According to information, a significant part of counterfeit dollars enters Turkey through the Middle East, Asia, the Balkans and Iran. Mustafa Yunver added that counterfeiters are using modern materials and technologies, as a result of which counterfeits cannot be distinguished from originals without special equipment.

"We received information that the volume of counterfeit dollars is about 600 million. Pay particular attention to $50 bills, as they are a prime target for counterfeiting. These banknotes are of such high quality that it is difficult to determine their authenticity even in factories that manufacture money-checking equipment," he said.

Yunver strongly advised citizens not to carry out currency transactions outside of banks and official exchange offices.

"There are about 950 licensed exchange offices in Turkey, but in addition there are thousands of illegal organizations. "Citizens should be extremely careful and avoid buying currency in places that do not have an official license," he said.

Yeni Şafak published a series of recommendations for identifying fake dollars:

Paper quality

Original dollar bills are printed on paper that is 75 percent cotton and 25 percent linen. To the touch, fake money can be smooth or, on the contrary, very rough.

Microtext

Real banknotes have microtext that can only be seen under a magnifying glass. For example, on the $50 bill of 2004, such inscriptions are placed on the edge of the portrait and along the edges of the bill.

Color change effect

On real $50 and $100 bills, the numbers change color from copper to green as the viewing angle changes.

The paper construction includes a security thread that displays the USA and the denomination of the banknote.

Filigree

When the banknote is viewed in the light, a portrait or other engraved image appears on it that matches the main image.

Smell

Some experts say that the new notes may smell different from counterfeits because different chemicals are used.

The abundance of counterfeit money is alarming

Counterfeit dollars have entered the Turkish economy en masse, causing serious difficulties for banks, exchange offices and ordinary citizens. This problem undermines confidence in the financial system and requires urgent action, including improvements in verification technology and public education.