331,000 The 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. The name of the European single currency adopted by the European Council at the meeting held in Madrid on 15-16 December 1995. See ECU. banknotes were withdrawn from circulation in the first half of 2017. Around 85% of the counterfeits were €20 and €50 banknotes. All euro banknotes can be verified using the “feel, look and tilt” method. Euro banknotes continue to be a trusted and Secure container for storing money and valuables, with high resistance to breaking and entering. means of A transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee..
Some 331,000 counterfeit euro banknotes were withdrawn from circulation in the first half of 2017, a decrease compared with the second half of 2016. The likelihood of receiving a counterfeit is thus very slight. The number of counterfeits remains very low compared with the number of genuine banknotes in circulation, which has risen steadily, at rates above GDP growth, since they were introduced. In 2016, for instance, the number and value of euro banknotes in circulation grew by around 7.0% and 3.9% respectively. There are now over 20 billion euro banknotes in circulation, with a total value of more than €1.1 trillion.
The half-yearly trend is shown below:
Period 2014/1 2014/2 2015/1 2015/2 2016/1 2016/2 2017/1
Number of counterfeits 331,000 507,000 454,000 445,000 331,000 353,000 331,000
A breakdown, by Each individual value in a series of banknotes or coins., of the total number of counterfeits withdrawn from circulation in the first half of 2017 is provided below.
Denomination €5 €10 €20 €50 €100 €200 €500
Percentage breakdown 1.0% 2.4% 36.9% 47.6% 9.0% 1.6% 1.5%
During the first half of 2017:
• most of the counterfeits (96.7%) were found in euro area countries. Around 2.3% were found in EU Member States outside the euro area and 1.0% were found in other parts of the world.
Check your banknotes!
Ever since the first series of euro banknotes was issued, the The Eurosystem comprises the European Central Bank and the national central banks of those countries that have adopted the euro. – i.e. the ECB and the 19 In general, the expression refers to the central banks of different countries. 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 €uro” section of the ECB’s website and on the websites of the national central banks. If you receive a A banknote whose authenticity is questionable but has not yet been confirmed or disproved., compare it directly with one you know is genuine. If your suspicions are confirmed, please contact the police or – depending on national practice – your national central bank or your own bank. The Eurosystem supports the law enforcement agencies in their fight against The 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. counterfeiting.
The Eurosystem communicates in various ways to help people distinguish between genuine and counterfeit notes, as well as to help professional Money in physical form such as banknotes and coins. handlers ensure that banknote-handling and processing machines can reliably identify and withdraw counterfeits from circulation.
The Eurosystem has a duty to safeguard the integrity of the euro banknotes and continue improving A 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. technology. The second See Family of banknotes. – the Europa series – is even more secure and is helping to maintain public confidence in the currency.
The new €50 banknote, with its innovative security features, was launched on 4 April 2017. Banknote equipment manufacturers and other suppliers will continue to receive support from the Eurosystem in adapting their machines and The process of proving that a banknote or security document is genuine. devices to the new banknote. If their equipment is still unable to accept this banknote, operators/owners should contact their suppliers or manufacturers without delay.