87 F
Mérida
Friday, May 20, 2022
###

Watch out for fake 500-peso bills, banks warn

Crude counterfeits created with a photocopier are apparently fooling some victims

Latest headlines

What is the Loop Current and how does it affect hurricanes on the Yucatán Peninsula?

A current of warm tropical water is looping unusually far into the Gulf of Mexico for this time of year, with the power to turn tropical storms into monster hurricanes.

Izamal revamps its infrastructure while seeking investment

A walking tour of Izamal includes Mayor Warnel May Escobar and Yucatán Gov. Mauricio Vila Dosal. Photo: Courtesy

Mexico looks to its southern neighbors for investment and international cooperation

Historically Mexico’s economic footprint regarding its neighbors to the south has been negligible at best, aside from a few large corporations such as Banco Azteca and Bimbo. 

Activists in Mérida observe International Day Against Homophobia, Transphobia and Biphobia

Trans pride flag flies over the Monumento a la Patria on Paseo de Montejo. Photo: Courtesy Jornada Maya
Yucatán Magazine
Yucatán Magazine is for people who want the inside scoop on living here. Sign up to get our top headlines delivered to your inbox every week.
Are they real or fake? Phony 500-peso bills are circulating in Yucatan.

Merida, Yucatan — Counterfeit 500-peso bills are apparently circulating in the area.

Fake copies of the new 500-peso bills — with Benito Juarez and not Diego Rivera — are being accepted by unsuspecting merchants, according to the news agency Sipse.

Scammers are avoiding formal stores and commercial chains, instead targeting street vendors and others who aren’t trained to tell when they are handed funny money.

In a bank, for example, a 500-peso bill would be put under a special light to verify its authenticity. Big stores arm their cashiers with special markers that detect a fake.

The phonies have a bright hue because they are bathed in a wax or varnish to confound victims who would otherwise know a color photocopy when they see it.

The Bank of Mexico recommends that if you suspect the authenticity of your currency, do not try to unload it on someone else. You could face a fine and up to 12 years in prison for passing counterfeit bills.

Neither should you destroy it or save it. Take it to a bank branch, where an employee will send it to the Bank of Mexico, which serves as the country’s federal reserve.

But the teller won’t trade it for a real note. Victims of counterfeit fraud have no recourse with banks.

A real peso can be held up to the light, and a holographic thread will be visible in the paper.

According to the Bank of Mexico, between Jan. 1 and Sept. 6,231,848 counterfeit pesos were seized nationally that’s an average of 934 a day.

- Advertisement -

Subscribe Now!

More articles

Mexico’s COVID-19 vaccine contracts to remain a state secret until 2025

The true cost of Mexico’s COVID-19 vaccination campaign will not be known until well after the next round of federal elections....

Drivers infuriated by dangers where train work clashes with Mérida-Cancún highway

Serious accidents on the Mérida-Cancún toll highway have become more common since the construction of Phase 4 of the Mayan Train...

Progreso to open new inflatable water park this summer

The new attraction made by Splash-n-Dash Aqua Park will arrive in Progreso in the coming weeks and should be ready by...

Gov. Vila travels to France to promote investment in Yucatán

Yucatán Gov. Vila heads a seminar aimed at investors in France titled “Yucatán, the right place to invest.” Photo: Courtesy

A Mérida restaurant makes a big move, to Phoenix

A Mérida restaurant has moved to Phoenix, where Arianna Pared Villegas still proudly displays her Cuban roots. Photo: Courtesy

Out-of-control fire rages through Valladolid garbage dump

Fires are common in Yucatán between March and May, and the problem only seems to be getting worse every year. Photo:...

Starbucks forces cafes in Mexico to remove frappuccinos from menus

A law firm representing Starbucks has sent cease and desist letters to cafes across Mexico.

Tour Yucatán: Join us for 5 exciting days full of natural beauty and archaeology

We have decided that the time is right to launch our very first Yucatán Magazine tour.

17 Young Sculpture Artists You Should Follow

The "Earth" without "Art" is just "Eh." Surrounding ourselves with beautiful things is very important for our general...

8 Ways To Keep Your Nutrition Clean

Clean eating helps you feel more energized, boost overall health, and be more environmentally cautious. It is good for people, and it...