Fraud Scheme Uncovered in Transcarpathia
A sophisticated fraud operation has been exposed in the Transcarpathian region, specifically in the cities of Mukachevo, Svalyava, and Khust. Six local residents are accused of using counterfeit souvenir banknotes—denominations of 200, 500, and 1,000 hryvnias—to deposit fake funds into bank accounts. The total damage is estimated at approximately 1.93 million hryvnias. Law enforcement conducted 10 authorized searches, seizing bank cards and mobile devices. The suspects have been notified of suspicion under Articles 190 (Parts 4 and 5) and 209 (Part 2) of the Criminal Code of Ukraine.
How the Scam Worked
According to investigators, the group systematically used ATMs to deposit counterfeit paper notes into their accounts. In many cases, they performed multiple transactions in rapid succession—sometimes several within minutes. Once the fake deposits were credited, the suspects quickly withdrew real cash from other terminals or transferred the funds to different cards for further laundering. To avoid detection, they used both their own bank accounts and those of third parties.
The deposits were made at various shopping centers and bank branches, sometimes multiple times a day. Each transaction ranged from 30,000 to 200,000 hryvnias. Throughout March, dozens of such transactions were documented across four ATMs. All counterfeit funds have been seized and never entered circulation. The Transcarpathian Regional Prosecutor's Office is continuing its investigation to uncover all details and identify any accomplices.
This case highlights the critical need for robust oversight of banking operations and exposes vulnerabilities in financial systems to fraud.
(Source: Transcarpathian Regional Prosecutor's Office)
The ongoing investigation aims not only to punish those responsible but also to identify potential co-conspirators, which could help prevent similar incidents in other regions of Ukraine.