New reports spread on social media warn about the alleged circulation of counterfeit 500 Cuban peso (CUP) banknotes, adding to the existing alerts regarding counterfeit 1,000 CUP bills.
According to reports, the technique used involves taking genuine low-denomination bills —such as five peso notes— and altering their appearance to make them look like they are worth a hundred times more.
The method is not new: a similar scheme was documented in July involving counterfeit 1,000 CUP bills made from genuine 200 CUP notes in Guantánamo, where the weak point was that “when viewed against the light, the number 200 is clearly distinguishable, confirming the forgery.”
In the case of the now alerted 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 handling large amounts of cash, such as bundles counted by machine, where counterfeit bills can go unnoticed.
The phenomenon is exacerbated 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 focus of several recent episodes: in November 2025, the authorities dismantled a national fraud network operating with counterfeit dollars, resulting in eight arrests and an estimated fraud of almost six million CUP and 1,000 dollars.
In response to inflation and cash shortages, the Central Bank of Cuba put into circulation new banknotes of 2,000 and 5,000 CUP last April, a measure met with skepticism by the public and that has not stopped the activity of counterfeiters.
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