27 July 2017
download the report now

ECB withdraws fewer counterfeit euro notes

30 January 2017  |  2947 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There was a sharp drop in the number of counterfeit euro notes withdrawn from circulation last year, with only a tiny fraction pulled, says the European Central Bank.

Around 353,000 counterfeit notes were withdrawn in the second half of 2016, slightly up on the first half of the year but more than 20% down on H2 2015.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  |  10080 views  |  0 comments | 5 tweets | 1 linkedin
ECB unveils new EUR50 note

ECB unveils new EUR50 note

05 July 2016  |  4726 views  |  2 comments | 6 tweets | 2 linkedin
Fed unveils new $100 bill

Fed unveils new $100 bill

07 October 2013  |  5102 views  |  0 comments | 9 tweets | 2 linkedin

Related company news


Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsdownload the paper nowvisit www.finastra.com

Top topics

Most viewed Most shared
UK judge blocks £14bn class action suit against MastercardUK judge blocks £14bn class action su...
10713 views comments | 7 tweets | 6 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
10230 views comments | 10 tweets | 6 linkedin
Yet more deals announced in payments sectorYet more deals announced in payments secto...
9667 views comments | 7 tweets | 21 linkedin
Machines could take over 30% of bank jobs: McKinseyMachines could take over 30% of bank jobs:...
9656 views comments | 28 tweets | 28 linkedin
Wells Fargo Control Tower to map customer's digital footprintsWells Fargo Control Tower to map customer'...
8351 views comments | 7 tweets | 5 linkedin

Featured job

Competitive base, bonus, benefits
London or South-East, UK

Find your next job