The European Central Bank (ECB) says 467,000 counterfeit euro notes will be withdrawn from circulation in 2023, up 24.2% from 2022 despite being the lowest historical level based on total banknote supply in circulation.
According to data published this Monday by the ECB, for every million real banknotes in circulation in 2023, 16 counterfeits were discovered.
The ECB also explained that the number of counterfeit banknotes remained below 2019 levels, despite increasing in 2023 compared to 2022, when the number of counterfeit banknotes in circulation was exceptionally low following the Covid-19 pandemic.
In 2023, 20 and 50 euro banknotes continued to be the most counterfeited, accounting for more than 70% of counterfeits.
Specifically, 38.5% of banknotes discovered in 2023 were €50 notes and 34% were €20 notes, followed by €100 notes (11.7%) and €10 notes (8.4%). ).
€200 notes made up 4.5% of the total, with €5 and €500 notes making up the rest.
Additionally, the ECB states that 97.2% of counterfeits were detected in euro area countries, while 1.9% were detected in non-euro area European Union (EU) member states and 0.9% in other parts of the world.