Trend of decline in the number of counterfeit euro banknotes and coins continues

03/09/2022 / Press release

The number of counterfeit euro banknotes and coins in circulation in Slovenia remains vanishingly small. In conjunction with the police, Banka Slovenije can report that the trend of decline in the number of counterfeit banknotes and coins withdrawn from circulation has continued: the number was down 12% over the last year alone. By contrast, the total value of counterfeit euro cash detected during the year was up more than a fifth on the previous year, as a result of increased counterfeiting of higher-denomination banknotes.

A total of 598 counterfeit euro banknotes and 2,475 counterfeit euro coins were withdrawn from circulation in 2021, down 12% on 2020. The 50-euro note remains the most commonly counterfeited, while the 2-euro is the coin most frequently withdrawn as counterfeit.

Conversely, the value of counterfeit cash detected during the year was up 22.4% on the previous year. There was a larger number of counterfeit higher-denomination banknotes withdrawn (100- and 500-euro), while the number of lower-denomination banknotes withdrawn fell.

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 vanishingly small. 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.

Figure 1: Comparison of the denomination breakdown of counterfeit euro banknotes withdrawn from circulation, 2019 to 2021

Source: Banka Slovenije 

Figure 2: Comparison of the denomination breakdown of counterfeit euro coins withdrawn from circulation, 2019 to 2021

Source: Banka Slovenije