When compared with the number of genuine euro banknotes in circulation (on average 14.4 billion during the second half of 2011), the proportion of counterfeits remains very low.
Nevertheless, the Eurosystem – i.e. the European Central Bank (ECB) and the 17 national central banks of the euro area – continues to advise the public to remain alert with regard to the banknotes received in cash transactions. Genuine banknotes can be easily recognised using the simple “FEEL-LOOK-TILT” test described on the euro pages of the ECB’s website and the websites of the Eurosystem national central banks. In case of doubt, however, a suspect banknote should be compared directly with one that is known to be genuine. Anyone who suspects that they may have received a counterfeit should contact either the police or – where national practice allows – the relevant national central bank.
The €20 and €50 denominations continue to be the most counterfeited. During the past six months, the share of counterfeit €20 banknotes increased and the share of counterfeit €50 banknotes decreased. The two most counterfeited denominations together accounted for 80.0% of the total during the second half of 2011. The €100 banknote is the third most counterfeited denomination, accounting for 16.0% of the total. The share of the other denominations (€5, €10, €200 and €500) is very low.
The majority (97.5%) of counterfeits recovered in the second half of 2011 were found in euro area countries, with only around 2.0% being found in EU Member States outside the euro area and 0.5% being found in other parts of the world.
The Eurosystem invests considerable effort in ensuring that the public is well informed about how to recognise a counterfeit banknote and, for professional cash-handlers, that banknote-handling and processing machines can reliably identify and withdraw counterfeits from circulation.
As a rule, one should notify the police immediately if you have received counterfeit money since making use of counterfeit money is just as illegal as manufacturing it. Counterfeit money is not eligible for replacement.
Article 50 (1) of the Central Bank of Malta Act obliges any person who is in possession of any counterfeit, or suspected counterfeit, currency note or coin to withdraw it from circulation and surrender it immediately over to the Bank.
More information may be found at http://www.centralbankmalta.org/site/counterfeit.html