ECB: sharp decrease of counterfeit banknotes in first half 2016

The ECB announced that, in the first half of 2016, it had withdrawn from circulation about 331,000 counterfeit euro banknotes, 25% less than in the second half of 2015. The data covers the entire Eurozone.
In relation to the increasing number of genuine banknotes in circulation (over 18.5 billion in the first half of 2016), the proportion of counterfeits remains at very low levels. About 80% of counterfeits concerned the 20-euro and 50-euro banknotes.

The majority of counterfeit banknotes (97.6%) was recorded in the euro area countries. Just 1.7% of the fakes came from EU Member States outside the euro area, while less than 0.7% from other parts of the world.

Genuine banknotes –  the ECB reminds – can be recognized with the method based on three key words "FEEL-LOOK-TILT" test described on its website and the websites of the Eurosystem national central banks.

The five-euro, 10-euro and 20-euro bills have already been launched and the new 50-euro note came into circulation next April. The ECB has come under fire over its decision to eliminate the 500-euro note despite fears that the violet-coloured bills were favoured by criminals for money laundering and even terrorist financing. The bank is to stop issuing the 500-euro bills around the end of 2018 although those currently in circulation will remain legal. tender.