Unprecedented amount of counterfeit money withdrawn in 2015, says ECB

An unprecendented number of counterfeit euro notes were withdrawn from circulation worldwide in 2015, the European Central Bank (ECB) said in Frankfurt on Friday.

According to the ECB, some 899,000 faked notes had been found. This was around 60,000 more compared to 2014 and almost 40,000 more than in 2009 when the last record stood at 860,000.

The majority of counterfeit notes in circulation were 20 and 50-euro notes.

As recently as November 2015 the ECB introduced a new 20-euro note with enhanced security features to make it more difficult to forge them.

However, there is no need to panic about the cash in your wallet quite yet. "Compared to the increasing number of real bank notes in circulation - more than 18 billion in the last six months of 2015 - the number of fakes is still quite small," the bank said.

Last update: Sun, 21/08/2016 - 12:59

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