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News - Media Releases 2018

17/09/2018

Bi-annual information on euro banknote counterfeiting in Malta

There was a notable decrease in the number of counterfeit euro banknotes reported to the Central Bank of Malta in the first half of 2018. At 391 pieces, the overall quantity of counterfeits withdrawn from circulation was 17% lower than the aggregate figure withdrawn in the previous six months (July to December 2017) and also lower than that reported in the same period of 2017 (January to June 2017).

When compared with the number of genuine euro banknotes in circulation in Malta (slightly above 11.16 million on average for the first half of 2018), the proportion of euro counterfeits remains insignificant. It is also low (0.13%) as a proportion of the total number of counterfeits seized in the euro area as a whole over the same period, amounting to 301,000 pieces.

Similar to the developments in the euro area, the €20 and €50 continue to be the most counterfeited denominations found locally. These two denominations together accounted for 74.2% of all counterfeits during the first half of 2018. During this period, the share of the €10 denomination also experienced a slight increase.

The Table below provides a percentage breakdown by denomination, of the total number of counterfeits withdrawn from circulation in the first half of 2018 compared to those withdrawn in the euro area as a whole.

 

 

€5

€10

€20

€50

€100

€200

€500

Percentage Breakdown

Euro area

1.2

1.9

23.8

59.3

10.9

0.8

2.1

Malta

5.9

10.4

21.5

52.7

7.7

1.3

0.5

In the area of professional cash handlers, the Bank has continued with its certification programme through its cash and anti-money laundering e-learning modules. Additionally in order to support the general public, Currency Operations personnel are visiting a substantial number of Day Centres to deliver training on the recognition of counterfeit currency.

Notwithstanding the low figures of counterfeits reported locally, the Central Bank of Malta continues to advise the public to remain alert with regard to the banknotes received in cash transactions. Genuine banknotes can be easily recognised using the simple "FEEL-LOOK-TILT" test, which is described on the Bank's website. The Bank is available to provide any support, including training to any local entities which may require such assistance.

Anyone who receives a suspect note should contact either the Police by calling on 2294 2120 or the Central Bank of Malta on 2550 6012/13 or by sending an email.

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