24 September 2017
visit www.avoka.com

ECB withdraws fewer counterfeit euro notes

30 January 2017  |  3115 views  |  0 cash

There was a sharp drop in the number of counterfeit euro notes withdrawn from circulation last year, with only a tiny fraction pulled, says the European Central Bank.

Around 353,000 counterfeit notes were withdrawn in the second half of 2016, slightly up on the first half of the year but more than 20% down on H2 2015.

The number of counterfeits remains very low in comparison with the increasing number of genuine banknotes in circulation - over 19 billion during the second half of 2016.

The vast majority of fake notes are EUR20 and EUR50, accounting for 38% and 43%, respectively, while 94% of all counterfeits were found in euro area countries.

Despite the encouraging figures, the ECB is still planning on introducing a new EUR50 with updated security features in April.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

New 'secure' £1 coin to be released in March

New 'secure' £1 coin to be released in March

03 January 2017  |  10228 views  |  0 comments | 5 tweets | 1 linkedin
ECB unveils new EUR50 note

ECB unveils new EUR50 note

05 July 2016  |  4838 views  |  2 comments | 6 tweets | 2 linkedin
Fed unveils new $100 bill

Fed unveils new $100 bill

07 October 2013  |  5133 views  |  0 comments | 9 tweets | 2 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.temenos.comvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13388 views comments | 28 tweets | 44 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
9741 views comments | 13 tweets | 28 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8591 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8365 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
8076 views comments | 32 tweets | 45 linkedin

Featured job

circa £250K total package
London

Find your next job