29 April 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

ECB withdraws fewer counterfeit euro notes

30 January 2017  |  2575 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There was a sharp drop in the number of counterfeit euro notes withdrawn from circulation last year, with only a tiny fraction pulled, says the European Central Bank.

Around 353,000 counterfeit notes were withdrawn in the second half of 2016, slightly up on the first half of the year but more than 20% down on H2 2015.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  |  9676 views  |  0 comments | 5 tweets | 1 linkedin
ECB unveils new EUR50 note

ECB unveils new EUR50 note

05 July 2016  |  4454 views  |  2 comments | 6 tweets | 2 linkedin
Fed unveils new $100 bill

Fed unveils new $100 bill

07 October 2013  |  5048 views  |  0 comments | 9 tweets | 2 linkedin

Related company news


Related blogs

Create a blog about this story (membership required)
visit dh.comvisit vasco.com/news/PSD2-compliant-solutionsVisit capgemini.com

Top topics

Most viewed Most shared
Six global banks join Swift DLT trialsSix global banks join Swift DLT trials
7802 views comments | 15 tweets | 36 linkedin
BBVA steps up fintech acquisition strategy with purchase of OpenpayBBVA steps up fintech acquisition strategy...
7030 views comments | 17 tweets | 16 linkedin
Should central banks open up payment and settlement systems to non-banks?Should central banks open up payment and s...
6111 views comments | 22 tweets | 21 linkedin
Token raises $15.7 million as PSD2 approachesToken raises $15.7 million as PSD2 approac...
5959 views comments | 20 tweets | 20 linkedin
JPMorgan formally quits R3JPMorgan formally quits R3
5883 views comments | 23 tweets | 13 linkedin

Featured job

Six Figure Base + Commission + Stock Options

Find your next job