484 counterfeit banknotes seized in first half of 2011
484 counterfeit euro banknotes were seized and reported to the Central Bank of Maltain the first half of this year, the lowest for any six-month period since the Euro’s adoption.
No banknotes were seized before circulation by police during the same period.
Similar to developments in the euro area as a whole, the €20 and €50 continue to be the most counterfeited denominations found locally, even if the share of the €20 counterfeit decreased whilst that of the €50 increased.
These two most counterfeited denominations together accounted for 89% of the total.
During the second half of 2010, as many as 1,509 counterfeit euro banknotes were seized from circulation, while only 154 banknotes were seized prior to circulation. In the first half of that year, 760 notes were seized while in circulation.
In its statement, the Centr5al Bank said that when compared to the number of genuine euro banknotes in circulation in Malta (slightly above 22 million on average for the first half of 2011), the proportion of euro counterfeits remains insignificant.
It is also very low when compared to the number of counterfeits seized in the euro area in the same period, which according to the ECB’s press release issued on Monday 18 July, amounted to 295,553 pieces, the Central Bank added.
The Central Bank of Malta advised the public to remain alert with regard to the banknotes received in cash transactions. Genuine banknotes can be easily recognised using the simple “FEEL-
In case of doubt, however, a suspect banknote should be compared directly with one that is known to be genuine.
