Amount of counterfeit euro cash detected in Slovenia falls

The amount of counterfeit euro cash withdrawn from circulation in Slovenia has fallen for the second consecutive year. The total value of cash withdrawn during the year has thus fallen from EUR 720,000 to just over EUR 76,000 over the last two years. The main factor was the number of counterfeit banknotes detected, which fell by just under a third, while the number of counterfeit coins detected rose by almost 60%.

A total of 1,236 counterfeit euro banknotes and 2,237 counterfeit euro coins were withdrawn from circulation last year. The 50-euro banknote accounts for by far the largest number of withdrawals (852 instances), followed by the 20-euro (182) and 100-euro (94) banknotes. The 2-euro is the coin most frequently withdrawn as counterfeit (1,743 instances).

Here the Bank of Slovenia should reiterate, like the ECB, that the likelihood of receiving counterfeit euro cash remains relatively low. The share of coins and banknotes in circulation that are counterfeits 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, the Bank of Slovenia reminds users of euro banknotes that they can check for authenticity using the simple feel, look and tilt method, as described in detail on the ECB website and the Bank of Slovenia website.

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.

Figure 1: Amount of counterfeit euro cash withdrawn from circulation in Slovenia, EUR

Source: Banka Slovenije