There was an increase in the number of counterfeit euro banknotes reported to the Central Bank of Malta in the first half of 2019.

At 844 pieces, the overall quantity of counterfeits withdrawn from circulation was higher than the aggregate in the previous six months (July to December 2018) and also higher than that reported in the same period of 2018 (January to June).

However, while the amount of counterfeits increased during this period, overall seizures during 2017 and 2018 remain substantially below the amounts reported in the previous years.

When compared with the number of genuine euro banknotes in circulation in Malta (slightly above 12.16 million on average for the first half of 2019), the proportion of euro counterfeits remains insignificant. It is also low (0.33%) as a proportion of the total number of counterfeits seized in the euro area as a whole over the same period, amounting to 251,000 pieces.

€20 and €50 notes continue to be the most common counterfeited denominations found locally, accounting for 89 per cent of all counterfeits during the first half of 2019.

The share of fake €10 notes found declined slightly during the reporting period.

 

 

€5

€10

€20

€50

€100

€200

€500

Percentage Breakdown

Euro area

1.6

3.0

27.9

54.2

10.4

1.4

1.5

Malta

0.5

5.9

28.6

60.4

4.3

0.3

0.0

Table: A percentage breakdown by denomination of the total number of counterfeits withdrawn from circulation in the first half of 2019, compared to those withdrawn in the euro area as a whole.

 

The Central Bank said new €100 and €200 banknotes with enhanced security features were issued on May 28. 

Notwithstanding the low figures of counterfeits reported locally, the Central Bank of Malta continues to advise the public to remain alert when receiving cash. 

Genuine banknotes can be easily recognised using the simple “feel-look-tilt” test, described on the bank’s website.

Anyone who receives a suspect note should contact either the police on tel: 2294 2120, or the Central Bank of Malta on tel: 2550 6012/13, e-mail: nccmt@centralbankmalta.org.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.