Counterfeit euro banknotes decrease by 25%
In the second half of 2012, the number of counterfeit euro banknotes reported to the Central Bank of Malta amounted to 713, 25% lower than 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This brought the total of counterfeits withdrawn from circulation for the whole of 2012 to 1,664, a 7.8% increase on the previous year’s level.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 18.5 million genuine euro banknotes in circulation in Malta, 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 ECB claim to have 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 as can be found on the Bank’s website: www.centralbankmalta.org/site/counterfeit.html.