Number of counterfeit euro notes drops

The number of counterfeit euro banknotes in circulation in the country reduced significantly in the first half of this year, said a recent press release issued by the Bank of Finland.

In the first half of 2017, a total of 345 counterfeit euro banknotes were detected while in circulation in Finland, posting more than a 50 per cent drop from that in the corresponding period of 2016 when 703 counterfeit euro notes were spotted.

A total of 2,171 counterfeit euro notes were detected in the country in 2016 compared to 1,085 found in 2015.

“The probability of receiving a counterfeit euro banknote in Finland is very small. It is, however, advisable to pay attention to the security features of the banknotes when handling them,” said Bank of Finland Head of Cash Operations Jussi Kangas.

The number of counterfeit euro banknotes in Finland is insignificant compared with the situation in other euro-zone countries.

Among the counterfeit banknotes in circulation in Finland in the first six months of 2017, the EUR 50 notes were the most frequently discovered counterfeits (163), followed by the EUR 20 (100 counterfeits) and EUR 100 (34 counterfeits).

The new series of euro banknotes serves as a means of combating counterfeiting. The latest technology has been used in the security features of the banknotes to make it more difficult to forge. So far, the EUR 5, EUR 10, EUR 20, and EUR 50 banknotes have already been renewed. The new EUR 50 note was launched last, in April this year.

A number of security features have been incorporated into euro banknotes for recognising genuine banknotes. Banknote authenticity can be checked by using simple tests: by feeling the raised print, looking at the banknote against the light, and tilting the banknote.

In case of doubt, a suspected banknote should be compared directly with one that is known to be genuine.