Counterfeiting is a global phenomenon, and is a criminal offence with an ancient history. The development of increasingly sophisticated technology is allowing counterfeiters to be more active both in Slovenia and elsewhere around the world. Every year counterfeit money is found in Slovenia, and the most likely victims are individuals who fail to closely examine the cash they are given or who are insufficiently familiar with the basic features of genuine banknotes.
European System of Cental Banks - ESCB is constantly endeavouring to protect banknotes against counterfeiting by building in a great number of new, high-quality security features that at least make it more difficult to counterfeit banknotes, if not actually prevent it. The assumption here is that the security markings must allow users to recognise that the banknotes they conduct their everyday business with are genuine without needing to use technical equipment.
Information on euro banknote counterfeiting - Eurosystem
On 27 January 2017, the European Central Bank published biannual information on euro banknote counterfeiting.
In the second half of 2016, 353,000 counterfeit euro banknotes were withdrawn from circulation – a slight increase compared with the first half of 2016. 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).
On 16 February 2016 the European Commission announced that 146,900 counterfeit euro coins were withdrawn from circulation in 2015, which is the lowest number in the last six years. The counterfeits were primarily €2, €1 and 50 cent coins.
Table 1: Counterfeited euro banknotes in the Eurosystem in the second half of 2016
The €20 and €50 notes continued to be the most counterfeited banknotes. Together they accounted for 80.3% of all the counterfeits. Most (93.6%) of the counterfeits were found in euro area countries.
According to NAC and CNAC figures, 1,323 counterfeit euro banknotes and 1,030 counterfeit euro coins were withdrawn from circulation in the year 2016 in Slovenia, compared to 1,653 euro banknotes and 1,092 euro coins withdrawn during the year 2015.
The highest share in the terms of quantity was accounted by counterfeits of €50 (30.5%), closely followed by €20 (30.5%). The €2 coin (59.1%) remains the most widespread euro coin counterfeit in Slovenia.
Table 2: Denomination breakdown of euro counterfeits, removed from circulation in 2016 in Slovenia
Compared with the year 2015, in 2016 a decrease in the number of counterfeit euro banknotes, withdrawn from circulation (down by 19.6%) as well as a decrease in the number of counterfeit euro coins (down by 5.5 %) was observed in Slovenia. Considering the number of genuine banknotes, net issued in circulation by Bank of Slovenia (at the end of the year 2016: 249.4 million pieces) the share of the counterfeits remains very low.