Counterfeit Currency Surge in Cancun – Public Warning Issued

Quintana Roo, Cancun, is experiencing a surge in counterfeit currency circulation, prompting the National Commission for the Protection and Defense of Financial Services Users (CONDUSEF) to issue a public warning. The CONDUSEF, led by Osmaida Santiago Leonel in Quintana Roo, is urging residents to be vigilant when accepting cash payments due to the severe legal implications of using counterfeit money. The warning extends to both Cancun and Chetumal, as the rise in fake currency circulation has led to increased reports of people unknowingly receiving counterfeit bills in commercial transactions.

From January to September this year, the Bank of Mexico identified 224,390 counterfeit bills in circulation nationwide. This includes counterfeit 200, 500, and 1,000 peso notes. The Bank of Mexico (Banxico) has a 20-business day window to verify the authenticity of any submitted bill. The CONDUSEF has reiterated that using counterfeit money is a federal crime, carrying a penalty of up to 12 years imprisonment.

The Federal Commission for the Protection of Financial Services Users has made several communication channels available to the public. These channels provide guidance and advice on how to identify counterfeit currency. It's crucial for residents to familiarize themselves with the security features of the bills, both visually and by touch, to avoid inadvertently using counterfeit money.