Banknote Production

ECB: Counterfeit euros up 8 per cent

Nearly 200,000 counterfeit euro20 banknotes were seized in the last six months says the European Central Bank

Nearly 200,000 counterfeit euro20 banknotes were seized in the last six months says the European Central Bank

The European Central Bank (ECB) announced today that the number of fake euro banknotes seized in the last six months rose by eight per cent from the first half of the year.

“In the second half of 2009 a total of 447,000 counterfeit euro banknotes were withdrawn from circulation,” an ECB statement said.

Though the increase is significant, ECB officials say it is a step up from the first half of 2009, which saw a 17 per cent increase in seized counterfeit notes.

The most frequently forged bills were the euro20, which accounted for 47 per cent of the fakes, and the euro50, which accounted for 39 per cent.

The euro contains many security features that attempt to foil counterfeiters. Specific watermarks, security threads, hologram foil stripes & patches, iridescent stripes, and colour-shifting inks all play their part in deterring the reproduction of fake notes.

Though the ECB’s statement demonstrated concern at the growing ability to produce successful counterfeit euros, the Central Bank also remained steadfast in believing it was a manageable problem.

“When compared to the 12.8 billion genuine banknotes in circulation,” the ECB statement said, “the proportion of counterfeits is still very low.”

Nearly one million counterfeit euros were seized and withdrawn from circulation in 2009.

SOURCES:
Chicago Sun Times: “Amount of counterfeit euros up.”
“Fake euro seizures rise by 8%: ECB”

Discussion

Comments are disallowed for this post.

  1. [...] Back in January, the ECB announced the number of fake euros it seized in the second half of 2009 rose by eight per cent from the first half of the year. Though the increase was significant, ECB officials also said it was a step up from the first half of 2009, which saw a 17 per cent increase in seized counterfeit notes from the previous six months. [...]

    Posted by Fortress Paper Ltd., the world leader in banknote & security papers, supplies banknotes paper to central banks and official document paper to governments and companies around the world. | June 25, 2010, 11:28 am

Talking Pulp with Fortress Paper CEO

Fortress Paper CEO on BNN

Creating Currencies

Fortress Paper-Banknote Production Mill

Chad Wasilenkoff of Fortress Paper on BBC

Follow Global Paper Security

Subscribe

Enter your email address:
Google RSS Reader
Yahoo RSS Reader    Entries (RSS)
Translation Tools: