Home Malta Winds 545 counterfeit euro banknotes reported in 2019

545 counterfeit euro banknotes reported in 2019

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In the
second half of 2019, a total of 545 counterfeit euro banknotes were reported to
the Central Bank of Malta.

This brought
the total number of counterfeits withdrawn from circulation for the whole of
2019 to 1,389 pieces.

When
compared with the number of genuine euro banknotes in circulation in Malta
(slightly above 12.80 million on average for the second half of 2019), the
proportion of euro counterfeits remains insignificant.

It is also
low (0.18%) as a proportion of the total number of counterfeits seized in the
euro area as a whole over the same period, amounting to 308,000 pieces.

Of all the
fake euro banknotes seized in Malta over the second half of the year, the
middle denominations continue to be the most counterfeited. Together, the €20
and €50 accounted for almost three out of every four (74.5%) of all
counterfeits seized in circulation. During this period, the share of the €50
notes decreased while that of the €20 denomination increased.

The table below provides a percentage breakdown, by denomination, of the total number of counterfeits withdrawn from circulation in the second half of 2019 compared to those withdrawn in the euro area as a whole. 

Notwithstanding
the low figures of counterfeits reported locally, the Central Bank of Malta
continues to advise the public to remain alert with regard to the banknotes
received in cash transactions as in the past months there was an increase in
the number of low-quality counterfeits withdrawn from circulation. All are very
easy to detect as they have very poor imitations of security features.

Genuine
banknotes can be easily recognised using the simple “FEEL-LOOK-TILT”
test, which is described on the Bank’s website.
The Bank is available to provide any support, including training to any local
entities which may require such assistance.

Anyone who
receives a suspect note should contact either the Police on 2294 2120, the
Central Bank of Malta on 2550 6012/13 or on the Bank’s email

The post 545 counterfeit euro banknotes reported in 2019 appeared first on maltawinds.com.

Original article found on Malta Winds

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