Counterfeit Euro banknotes continue to be a concern, with a notable increase in the circulation of fake currency in recent years. The Bundesbank reported seizing around 36,600 counterfeit notes in the first half of 2023, marking an 8% rise compared to the previous half-year. Among these, the 50-euro note remains the most frequently counterfeited, followed by the 20-euro note. This surge in counterfeit currency highlights the ongoing issue of monetary fraud and emphasizes the need for vigilance among the public.
Genuine euro notes are equipped with several security features designed to thwart counterfeiters. These include the emerald number, see-through windows, and watermarks, all of which make replication challenging. To detect fake notes, the Bundesbank advises using the "Feel-See-Tilt" method. This involves checking the tactile features, observing the visual elements, and tilting the note to view the holograms and color-shifting inks.
In addition to banknotes, counterfeit coins are also prevalent, with about 68,400 fake coins detected, predominantly 2-euro coins. These counterfeits often have blurred images and irregular edge inscriptions, and a simple magnet test can help identify them.
While the overall financial damage from counterfeit currency remains relatively stable, the act of distributing fake money is a severe criminal offense, carrying penalties of up to five years in prison. The Bundesbank continuously offers training sessions to help individuals recognize counterfeit currency and emphasizes that once detected, counterfeit money cannot be reimbursed. Public education and awareness are crucial in combating this persistent threat to the economy.
