Status report on euro counterfeits seized in 2014

23. 01. 2015 | Press Release of the NBS

Banknotes

In 2014 a total of 3,466 counterfeit euro banknotes were recovered in Slovakia. This number was 30% higher compared to the previous year.

Out of the total, 2,071 counterfeits were recovered from circulation. The rest were detected by law enforcement agencies before entering circulation and therefore did not pose a risk to cash circulation.

The half-yearly trend in the number of counterfeit euro banknotes recovered

Period

2009

2010

2011

2012

2013

2014

 

1H

2H

1H

2H

1H

2H

1H

2H

1H

2H

1H

2H

Number

1,163

938

664

789

720

5,540

790

654

979

1,736

1,910

1,556

Counterfeit €500 banknotes constituted the largest share of the total counterfeits recovered in 2014, with most of them being detected before entering circulation. The most numerous denominations of counterfeit banknotes recovered from circulation were €50 (47.7% of the total) and €100 (24.5%).

Number of counterfeit banknotes broken down by denomination

 

€5

€10

€20

€50

€100

€200

€500

Total

Number

22

39

405

1,037

604

73

1,286

3,466

%

0.63

1.13

11.68

29.92

17.43

2.11

37.10

100

The quality of counterfeit banknotes recovered from circulation is generally good, but the falsification of the various security features is always less than perfect. Therefore counterfeits can be detected without using special technical equipment, simply by checking banknotes received in cash transactions.

This is easily done using the reliable "FEEL-LOOK-TILT" test, which is described and demonstrated on the euro pages of the ECB's website (www.ecb.int) and the websites of the Eurosystem national central banks.


Coins

The number of counterfeit euro coins recovered from circulation in Slovakia fell by 53% in 2014 to 2,724, compared with 5,752 in 2013. €2 counterfeits accounted for 74.8% of the total. The number of counterfeit coins remains extremely low compared with the number of   genuine euro coins in circulation.

The half-yearly trend in the number of counterfeit euro coins recovered

Period

2009

2010

2011

2012

2013

2014

 

1H

2H

1H

2H

1H

2H

1H

2H

1H

2H

1H

2H

Number

193

617

642

767

786

842

896

2,111

3,216

29,271

1,511

1,213

The technical quality of coin counterfeits is mostly good or very good, and it may therefore be quite difficult for the public to detect them, especially if insufficient attention is paid to coins when received.

Number of counterfeit coins broken down by denomination

 

50 cent

€1

€2

Total

Number

463

224

2,037

2,724

%

17.0

8.2

74.8

100.0

The easiest way to detect a counterfeit coin is with a simple magnet. Genuine €1 and €2 coins have a magnetic core and therefore by applying a magnet to the core it is possible to compare the magnetism of a suspect coin with that of a genuine coin. It is also important to observe the general appearance and colour of a suspect coin and compare them against
a genuine coin. In the case of a suspect €2 coin, it is also recommended to check the edge lettering.

More detailed information about the common and national sides of euro circulation coins can be found on websites of the ECB and Národná banka Slovenska.

Národná banka Slovenska has implemented the ISO 9001:2008 Quality Management System that is applicable to the analysis of suspect and damaged currency.

Martina Solčányiová
NBS Spokesperson

National Bank of Slovakia
Press and Editorial Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2142, +421-2-5865 2142, +421-2-5787 2169, +421-2-5865 2169
Internet: http://www.nbs.sk

Reproduction is permitted provided that the source is acknowledged.


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