The European Central Bank published its annual update on euro banknote counterfeiting, reporting that 554,000 counterfeit banknotes were withdrawn from circulation in 2024. It assessed the likelihood of receiving a counterfeit as low, citing 18 counterfeits detected per million genuine euro banknotes in circulation. While the number of counterfeits rose from the exceptionally low levels seen in the years after the COVID-19 pandemic, it remained below the levels observed before the pandemic. EUR 20 and EUR 50 notes were the most commonly counterfeited, together accounting for over 75% of withdrawals (36.0% and 43.6% respectively), and 97.8% of counterfeits were found in euro area countries. The update reiterated public guidance to check notes using the “feel, look and tilt” method and noted that successfully tested banknote-handling machines used by professional cash handlers can identify and remove counterfeits; suspected counterfeits should be reported to the police or, depending on national practice, the relevant central bank or commercial bank.
European Central Bank 2025-02-21
European Central Bank reports 554,000 counterfeit euro banknotes withdrawn in 2024
The European Central Bank reported 554,000 counterfeit euro banknotes were withdrawn from circulation in 2024, with EUR 20 and EUR 50 notes most commonly counterfeited. Despite an increase from post-pandemic lows, counterfeiting remains below pre-pandemic levels, with 18 counterfeits detected per million genuine notes. The ECB advises using the "feel, look and tilt" method for verification and reporting suspected counterfeits to authorities.