Alerts regarding counterfeit currency in Cuba have escalated to a new level: in recent days, reports circulated on social media indicate the circulation of fake bills of 500 Cuban pesos (CUP), adding to the existing warnings about counterfeits of 1,000 CUP.
According to reports, the technique used involves taking genuine low-denomination bills—such as five-peso notes—and altering their appearance to make them resemble a value one hundred times greater.
The method is not new: a similar scheme was documented in July involving counterfeit 1,000 CUP bills made from authentic 200 CUP bills in Guantánamo, where the weak point was that "when viewed against the light, the number 200 is clearly visible, confirming the forgery."
In the case of the now-flagged 500 CUP bills, irregularities can be detected at first glance in the printing, color, or texture.
However, the risk increases in quick transactions or when large amounts of cash are handled, such as bundles counted by machine, where counterfeit bills can go unnoticed.
The phenomenon is aggravated by the severe banking liquidity crisis that Cuba is experiencing, which has intensified the use of physical cash and increased the population's exposure to this type of fraud, especially in informal markets and unregulated transactions.
Guantánamo has been the focal point of several recent events: in November 2025, the authorities dismantled a national fraud network that was operating with counterfeit dollars, resulting in the arrest of eight individuals and an estimated fraud amount of nearly six million CUP and 1,000 dollars.
In response to inflation and cash shortages, the Central Bank of Cuba circulated new banknotes of 2,000 and 5,000 CUP last April, a measure met with skepticism by the population and which has not halted the activities of counterfeiters.
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