The Strategist

Counterfeiting of euro banknotes hits the lowest in 2021

01/31/2022 - 09:43

The number of detections of counterfeit euro banknotes last year was the lowest in the history of the currency, the European Central Bank (ECB) said.

"In 2021, 347,000 counterfeit euro banknotes were withdrawn from circulation, a historically low level relative to the number of banknotes in circulation... For every 1 million genuine banknotes in circulation, 12 counterfeits were detected," it said.

The figure is down 24.6% compared to 2020.

At the same time, about two-thirds of all seized counterfeits were in denominations of €20 and €50.

Just over 95% of counterfeits were detected in eurozone countries, 4.2% - in EU states outside the currency bloc, and just 0.4% - in other countries around the world, the ECB also noted.

"Counterfeits are easy to detect as they have no or very poorly imitated security features," the release said.

source: ecb.europa.e