Counterfeit prevention

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 banknotes are protected against counterfeiting with security features. To authenticate banknotes and their security elements, there is no need for special technical devices. This can be done using a simple »feel, look, tilt« method, as described on the Banka Slovenije and ECB websites. If you are given a suspicious banknote or coin, compare it directly with one that you know is genuine. If your suspicion is confirmed, inform the police without delay.

 

Counterfeit euro banknotes in 2023 – Eurosystem

Some 467,000 counterfeit euro banknotes were withdrawn from circulation in 2023. Despite an increase compared to 2022, the proportion relative to the total banknotes in circulation remains at one of the lowest levels. In 2023, just 16 counterfeits were detected per million genuine banknotes in circulation, indicating a low likelihood of receiving a counterfeit euro banknote. Euro banknotes remain safe and trusted means of payment.

The €20 and €50 banknotes remained the most counterfeited euro banknotes, jointly accounting more than 70 % of the withdrawn euro counterfeits in 2023.

Table 1: Counterfeited euro banknotes, withdrawn from circulation in 2023

Denomination	€5	€10	€20	€50	€100	€200	€500
Proportion (in %)	1.8	8.4	34.0	38.4	11.7	4.5	1.2

 

97.2 % of the counterfeits were found in euro area countries, while 1.9 % were found in non-euro area EU Member States and 0.9 % in other parts of the world.

 

Counterfeit euro banknotes in 2023 – Slovenia

In 2023, 1,108 counterfeit euro banknotes were withdrawn from circulation in Slovenia, representing a 16 % increase compared to the year 2022. The increase was mainly in higher denominations (€100, €200, €500), while the number of €20 and €50 counterfeits decreased. Consequently, the total value decreased in 2023 (€99,565.00) compared to 2022 (€60,040.00). Despite the increase, the number of withdrawn counterfeits in circulation in Slovenia remains low. According to Eurosystem data, Slovenia is positioned in the lower half compared to other countries based on the number of detected counterfeit euro banknotes.

Table 2: Counterfeited euro banknotes, withdrawn from circulation in 2023 in Slovenia

Denomination	€5	€10	€20	€50	€100	€200	€500
Quantity	13	81	217	319	277	166	35
Proportion (in %)	1.2	7.3	19.6	28.7	25.0	15.0	3.2

 

Figure 1: Counterfeited euro banknotes, withdrawn from circulation in 2022 and 2023 in Slovenia

 

In 2023, 7,690 counterfeit euro coins were withdrawn from circulation in Slovenia, representing a 22 % increase compared to the year 2022. The €2 coin continued to be the most frequently counterfeited euro coin.

Table 3: Counterfeited euro coins, withdrawn from circulation in 2023 in Slovenia

Denomination	€0,50	€1	€2
Number	101	286	7,303
Proportion (in %)	1.3	3.7	95.0

 

Considering the number of net genuine euro banknotes and coins issued, the proportion of counterfeits between cash in circulation is very small.