Euro banknote counterfeiting decreased further in the first half of 2019
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- 251,000 counterfeitThe reproduction or alteration of a document or security element with the intent to deceive the public. A counterfeit banknote looks authentic and has been manufactured or altered fraudulently. In most countries, currency counterfeiting is a criminal offence under the criminal code. More euroThe name of the European single currency adopted by the European Council at the meeting held in Madrid on 15-16 December 1995. See ECU. More banknotes were withdrawn from circulation in the first half of 2019
- Over 80% of those counterfeits were €20 and €50 banknotes
- Euro banknotes continue to be a trusted and safeSecure container for storing money and valuables, with high resistance to breaking and entering. More means of paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More
- All euro banknotes can be verified using the “feel, look and tilt” method
Some 251,000 counterfeit euro banknotes were withdrawn from circulation in the first half of 2019, a decrease of 4.2% when compared with the second half of 2018 and 16.6% less than in the first half of 2018, according to latest ECB figures. The likelihood of receiving a counterfeit is very small indeed as the number of counterfeits remains very low compared with the number of genuine banknotes in circulation, which has risen steadily at rates in excess of GDP growth since they were first introduced. In 2018 the number and value of euro banknotes in circulation grew by around 5.6% and 5.2%, respectively. There are now over 22 billion euro banknotes in circulation, with a total value of around €1.2 trillion.
The half-yearly figures are shown below:
Breakdown by denominationEach individual value in a series of banknotes or coins. More:
In the first half of 2019:
- The €20 and €50 notes continued to be the most counterfeited banknotes, jointly accounting for over 80% of all counterfeits.
- Most counterfeits (97.2%) were found in euro area countries. The rest were found in non-euro area EU Member States (2.1%) and in other parts of the world (0.7%).
Check your banknotes!
Ever since the first series of euro banknotes was issued, the EurosystemThe Eurosystem comprises the European Central Bank and the national central banks of those countries that have adopted the euro. More – i.e. the European Central Bank (ECB) and the 19 national central banksIn general, the expression refers to the central banks of different countries. More of the euro area – has encouraged people to be vigilant when receiving banknotes. You can check your notes by using the simple “feel, look and tilt” method described in the “The €uro” section of the ECB’s website and on the websites of the national central banks. If you receive a suspect banknoteA banknote whose authenticity is questionable but has not yet been confirmed or disproved. More, compare it directly with one you know to be genuine. If your suspicions are confirmed please contact the police or – depending on national practice – your national central bank or your own retail or commercial bank. The Eurosystem supports law enforcement agencies in their fight against currencyThe money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. More counterfeiting.
The Eurosystem communicates in various ways to help people distinguish between genuine and counterfeit notes, as well as to help professional cashMoney in physical form such as banknotes and coins. More handlers ensure that banknote-handling and processing machines can reliably identify counterfeits and withdraw them from circulation.
The Eurosystem has a duty to safeguard the integrity of euro banknotes and to continue improving banknoteA banknote (or ‘bill’ as it is often referred to in the US) is a type of negotiable promissory note, issued by a bank or other licensed authority, payable to the bearer on demand. More technology. The second series of banknotesSee Family of banknotes. More – the Europa series – is even more secure and is helping to maintain public trust in the currency.
New €100 and €200 banknotes with enhanced security features entered into circulation on 28 May 2019. This marked the completion of the Europa series, which has involved many years of preparation and cooperation within the Eurosystem.
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