Rise in fake Euro notes bank reveals
There are more fake Euro banknotes in circulation than ever before, the European Central Bank has warned.
In the first half of 2008 a total of 312,000 counterfeit euro banknotes were withdrawn from circulation, the most in any six month period since the introduction of the Euro.
The €50 note is proving the most popular fake accounting for 36 percent of fake, this is closely followed by €20 (33 percent) and €100 (21 percent.) Only 1 percent of the fakes were either the €5 or €500 notes.
The overwhelming majority (98 percent) of counterfeits recovered were found in euro area countries and approximately 0.5% were found in EU Member States outside the euro area.
A spokesperson for the ECB said: " The public can have confidence in the quality of euro banknotes and their security features. Counterfeits can be easily distinguished from genuine banknotes by using the simple FEEL-LOOK-TILT test.
"But in cases of doubt, a suspect banknote should be compared directly with one that is known to be genuine.
"Anyone who suspects they may have received a counterfeit should contact either the police or – where national practice allows – the respective national central bank, giving as many details as possible about the banknote’s origin.
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