Filenews 22 February 2025
The European Central Bank (ECB) has announced that the number of counterfeit euro banknotes detected in 2024 remains low, despite a slight increase compared to the pandemic years.
Specifically, 554,000 counterfeits were withdrawn from circulation during the year. According to the ECB, the probability of receiving a counterfeit banknote is extremely low, with only 18 counterfeits detected per million genuine banknotes in circulation.
Although this proportion is very low compared to the early years of the euro, there has been an increase compared to the COVID-19 pandemic, when counterfeit circulation was extremely limited. Nevertheless, levels remain lower than before the pandemic.
The €20 and €50 banknotes are the most counterfeited
The €20 and €50 banknotes remain the most frequently counterfeited, accounting for more than 75% of all counterfeits found in 2024.
The geographical distribution of counterfeits shows that:
- 97.8% were found in euro area countries;
- 1.3% were found in EU member states outside the Eurozone,
- 0.9% was detected in other countries worldwide.
Vigilance, but not concern about counterfeit euros
While the ECB sees no cause for concern, it calls on citizens to remain vigilant. Most counterfeits are easily identifiable, either because they lack security features or because the counterfeits are of poor quality.
The authenticity of banknotes can be checked using the three-step method:
- Touch control,
- Visual inspection,
- Examination at an angle.
Instructions for checking genuine banknotes can be found on the ECB's website and on the websites of the national central banks of the euro area.
What to do if you suspect you have a counterfeit banknote
If you suspect that you have received a counterfeit banknote, the ECB recommends that you compare it with a proven genuine one and, if your doubts are confirmed, immediately inform the police, your national central bank or your commercial bank.
The Eurosystem is working closely with law enforcement to ensure that cash detection machines can reliably recognise and withdraw counterfeits.
