Biannual information on euro banknote counterfeiting

1 min read

The FINANCIAL — In the second half of 2011 a total of 310,000 counterfeit euro banknotes were withdrawn from circulation. This means that the overall quantity of counterfeits withdrawn from circulation in 2011 was 19.3% lower compared with the figures for 2010, according to European Central Bank.

 

At the same time, there was an increase of 4.7% as regards the quantity recovered in the second half of 2011 compared with the previous six months.When compared with the number of genuine euro banknotes in circulation, the proportion of counterfeits remains very low.

Nevertheless, the Eurosystem – i.e. the European Central Bank and the 17 national central banks of the euro area – continues to advise the public to remain alert with regard to the banknotes received in cash transactions. Genuine banknotes can be easily recognised using the simple “FEEL-LOOK-TILT” test described on the euro pages of the ECB’s website and the websites of the Eurosystem national central banks. In case of doubt, however, a suspect banknote should be compared directly with one that is known to be genuine.

 

Anyone who suspects that they may have received a counterfeit should contact either the police or – where national practice allows – the relevant national central bank.The €20 and €50 denominations continue to be the most counterfeited. During the past six months, the share of counterfeit €20 banknotes increased and the share of counterfeit €50 banknotes decreased.

 

The two most counterfeited denominations together accounted for 80.0% of the total during the second half of 2011. The €100 banknote is the third most counterfeited denomination, accounting for 16.0% of the total. The share of the other denominations is very low.

See also  EBRD to extend a €15 million loan to UniCredit Leasing Serbia

The majority of counterfeits recovered in the second half of 2011 were found in euro area countries, with only around 2.0% being found in EU Member States outside the euro area and 0.5% being found in other parts of the world.

The Eurosystem invests considerable effort in ensuring that the public is well informed about how to recognise a counterfeit banknote and, for professional cash-handlers, that banknote-handling and processing machines can reliably identify and withdraw counterfeits from circulation.

 

 

Leave a Reply