Number of counterfeit euro banknotes declines

A total of 769 counterfeits were detected among euro banknotes in circulation in Finland in 2017, according to Bank of Finland.

The number of counterfeits declined considerably compared to 2016, when 2,171 counterfeits were detected.

“Counterfeits are detected in Finland very rarely,” said Olli Vehmas, Banknote Specialist at the Bank of Finland, adding that when handling banknotes, however, it is advisable to always check the security features.

Compared with other euro area countries, the numbers of counterfeit euro banknotes in Finland are modest. Of the different denominations of banknotes in circulation, the EUR 50 was the most frequently discovered counterfeit banknote in Finland (328 counterfeits) in 2017, followed by the EUR 20 (255 counterfeits) and EUR 100 (74 counterfeits).

The new series of euro banknotes helps curb counterfeiting. The banknote security features involve the latest technology, as a result of which banknote counterfeiting is even more difficult than before. In the new series of euro banknotes, the EUR 5, EUR 10, EUR 20 and EUR 50 banknotes have already been issued.

A number of security features have been incorporated into euro banknotes for authentication purposes.

Banknote authenticity can be checked by using the simple tests, i.e. by feeling the raised print, looking at the banknote and tilting it.

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

Instructions and guides for checking banknote authenticity can be found on the Bank of Finland website, said a press release.