Svensk Handel warns that counterfeit banknotes are still in circulation and urges both consumers and stores to be especially vigilant, particularly during the summer months. According to the organization, the risk of counterfeit notes being accepted increases when many shops are staffed by holiday temps and summer employees.

Although the use of cash has decreased in recent years, counterfeiting still occurs. Statistics from the Riksbank show that the number of detected counterfeit notes has dropped since the peak year of 2020, but the problem has not disappeared.

Svensk Handel’s security center registers several reports per week of suspected counterfeit banknotes, according to TV4. According to Svensk Handel, fraudsters exploit the fact that fewer and fewer people are accustomed to handling cash.

A common method is to use a fake 500-krona note to buy a cheap item or exchange it for smaller denominations, thus getting genuine money back as change.

What should you do?

One way to detect a fake 500-krona note is to check the security features. When the note is tilted, the symbol should change from a crown to the letters “KR.” This effect is often missing on counterfeit notes.

If a suspect counterfeit banknote is found, it is recommended to keep it and report the incident to the police. The note should be retained as it may be needed as evidence in an investigation.