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13/01/2021

Amendments to Directive No. 10

The EU Directive 2014/62/EU of 15 May 2014 on the protection of the euro and other currencies against counterfeiting by criminal law (the “Directive”) establishes minimum rules concerning the definition of criminal offences and sanctions in the area of counterfeiting of the euro and other currencies. It also introduces common provisions to strengthen the fight against those offences, to improve investigation of them, and to ensure better cooperation against counterfeiting.

CBM Directive No. 10 on Authentication, Fitness Checking and Recirculation of Euro Banknotes and coins lays down common rules and procedures on the authenticity, fitness checking and recirculation of euro banknotes and coins. These rules and procedures aim to safeguard the integrity of euro banknotes and coins as a means of payment.

To ensure full compliance with the Directive, CBM Directive No. 10 is being amended with the introduction of the following new provisions:

  • When the Bank has determined that banknotes and coins are counterfeit, such counterfeit currency shall be used as evidence in case of criminal proceedings.
  • Once criminal proceedings have been concluded, samples of counterfeit banknotes and coins used as evidence in criminal proceedings shall be transmitted without any delay to the Bank’s Counterfeits Surveillance Unit established under Article 54 of the Central Bank of Malta Act.
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