Value of counterfeit euro cash detected in Slovenia lowest since introduction of euro

03/03/2021 / Press release

The number of counterfeit coins and banknotes in circulation in Slovenia remains vanishingly small. Banka Slovenije in cooperation with the police have found that the total value of counterfeit euro cash withdrawn from circulation last year fell for the third year in a row, and is currently at its lowest level since the introduction of the euro in 2007. This is the result of the detection of a lower number of counterfeit banknotes, which has fallen by more than a quarter in the past year alone. In contrast, the number of counterfeit coins detected increased by just over 17% over the previous year.

Over the last three years, the total value of cash withdrawn from circulation each year has thus fallen from EUR 720,000 to just under EUR 75,000. A total of 887 counterfeit euro banknotes and 2,622 counterfeit euro coins were withdrawn from circulation last year. The 50-euro banknote accounts for the largest number of withdrawals (311 instances), followed by the 20-euro (212) and 10-euro (126) banknotes. The 2-euro is the coin most frequently withdrawn as counterfeit (2,154 instances).

Figure 1: Comparison of the denomination breakdown of counterfeit euro banknotes withdrawn from circulation, 2019 and 2020

Source: Banka Slovenije.

Figure 2: Comparison of the denomination breakdown of counterfeit euro coins withdrawn from circulation, 2019 and 2020

Source: Banka Slovenije.

Here Banka Slovenije should reiterate that the likelihood of receiving counterfeit euro cash remains relatively low. The number of counterfeit euro coins and banknotes in circulation is negligible. It should be added that passing counterfeits for payment is a criminal offence.

Together with the ECB and the other national central banks in the euro area, Banka Slovenije reminds consumers that they can check the authenticity of euro banknotes using the simple feel, look and tilt method, as described in detail on the Banka Slovenije and ECB websites. If you receive 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.

Banka Slovenije has also found that developments in the euro area are similar.