Counterfeit euros down 25% from first half of 2012

In the second half of 2012, the number of counterfeit euro banknotes reported to the Central Bank of Malta amounted to 713, or 25% lower than the 951 counterfeits found in the first half of the same year. This brought the total of counterfeits withdrawn from circulation for the whole of 2012 to 1,664, a 7.8% increase on the previous year's level.

When compared with the estimated number of genuine euro banknotes in circulation in Malta (estimated at around 18.5 million for the second half of 2012), the proportion of euro counterfeits remains insignificant.

It is also very low when compared to the number of counterfeits seized in the euro area in the same period, which according to the ECB's press release issued on Thursday 10 January, amounted to 280,000 pieces.

Similar to developments in the euro area as a whole, the middle denominations (€20, €50 and €100) continued to be the most counterfeited denominations found locally, amounting to 95.7% of all counterfeits.

Notwithstanding these low figures of counterfeits reported, the Central Bank of Malta continues to advise the public to remain alert with regard to the banknotes received in cash transactions. Genuine banknotes can be easily recognised using the simple "feel-look-tilt" test.However, in case of doubt about the authenticity of a banknote, this should be compared directly with one that is definitely known to be genuine. Anyone who suspects that they may have received a counterfeit should contact by phone, either the Police, on Tel. 2122 4001 or the Central Bank of Malta on Tel. 2550 6012/13 or email address: [email protected]