The Fight Against Counterfeiting and Statistics on Counterfeits

The fight against counterfeiting

The fight against counterfeit money is a Europe-wide concern, and is the responsibility of various international and national bodies. The national banknote and coin analysis centres established in each EU Member State and the ECB’s Counterfeit Analysis Centre closely monitor seized counterfeit banknotes and coins.

The information obtained is stored in a common database, and is shared with the competent national authorities and other bodies involved in the fight against counterfeit money. The ECB also works closely with Europol, Interpol and the European Commission. 

Euro banknotes are protected against counterfeiting by security features produced with the latest technology. You can learn more about this on Banka Slovenije’s online course.

Authenticity checks and counterfeits

Each year Slovenia too sees examples of counterfeit cash, where the potential victims are mainly individuals who take cash without examining it in detail, or who are not familiar with the basic features and properties of genuine banknotes and coins.

No special equipment is required to check the authenticity of banknotes and their security features: it can be done using the simple FEEL-LOOK-TILT method described on the ECB website. The authenticity of coins can be checked using the simple FEEL-LOOK method. The two methods and other approaches are featured in Banka Slovenije’s online course.

It is a criminal offence to pass on a banknote or coin that you suspect to be counterfeit, as the manufacture, distribution and restoration of counterfeit banknotes and coins is a criminal offence.

What should I do if I suspect a banknote or coin to be counterfeit?

If you suspect a banknote or coin to be counterfeit, you should examine its security features in detail using the FEEL-LOOK-TILT or FEEL-LOOK method. Where possible, you should also check the additional security features (extra equipment is required to check these). Compare the banknote or coin with a genuine example, and look for differences, not similarities. If after a thorough examination you still have doubts as to the authenticity of the banknote or coin, do not accept it, but instead call the police (by phoning 113).

What should I do if I have been given a counterfeit banknote or coin and failed to notice immediately?

If you have already accepted a banknote or coin that you suspect to be counterfeit, call the police immediately (by phoning 113). Try to remember where, when and from whom you received the banknote or coin. This information is often very helpful in tracking down counterfeiters and those who distribute counterfeits.

Counterfeit and suspect banknotes and coins should be handed over to the police. If the banknote or coin later proves to be genuine, you will get your money back. 

Statistics on counterfeits

Counterfeit banknotes in 2024 (Eurosystem) 

A total of 554,000 counterfeit euro banknotes were withdrawn from circulation in the Eurosystem in 2024, which is still one of the lowest figures to date relative to the number of banknotes in circulation. Compared to the last three years, the total number of counterfeits detected has increased slightly, but it still remains lower than in the years before the Covid 19 pandemic. Just 18 counterfeits were withdrawn for every million banknotes in circulation, which is much lower than in the years immediately after the introduction of the euro. The likelihood of receiving a counterfeit euro banknote therefore remains small, which means that euro banknotes remain a secure and trustworthy means of payment. 

The €20 and €50 notes were the most counterfeited banknotes in 2024. Together they accounted for more than 75% of all counterfeits withdrawn from circulation. 

Table 1: Distribution of counterfeit euro banknotes by denomination at Eurosystem level in 2024 

Some 97.8% of the withdrawn counterfeit euro banknotes were seized in euro area countries, 1.3% were seized in EU Member States outside the euro area, and 0.9% in the rest of the world. 

Counterfeit cash in 2024 (Slovenia) 

A total of 1,181 counterfeit euro banknotes were withdrawn from circulation in Slovenia in 2024, up approximately 7% on 2023. Despite the increase, the number of seized counterfeits in circulation in Slovenia remains relatively low. 

The number of withdrawn euro counterfeit €10, €20 and €200 notes increased, while the number of withdrawn counterfeit €5, €50, €100 and €500 notes decreased. The total value of the counterfeit euro cash detected in Slovenia amounted to EUR 110,240 last year, up approximately 11% on 2023.

Table 2: Distribution of counterfeit euro banknotes by denomination in Slovenia in 2024 

A total of 6,665 counterfeit euro coins were withdrawn from circulation in Slovenia in 2024, down approximately 13% on 2023. The €2 coin remains the most common counterfeit.

Table 3: Distribution of counterfeit euro coins by denomination in Slovenia in 2024

Compared with the net number of genuine euro banknotes and euro coins issued, the number of counterfeits in circulation is very low.