18/03/2025 09:16:00

Annual information on euro banknote counterfeiting in Malta

The number of counterfeit banknotes removed from circulation increased during 2024. A total of 1,565 counterfeit banknotes were presented at the Central Bank during the year, marking a substantial increase compared to previous years, when the number of counterfeits was exceptionally low due to the COVID-19 pandemic.

The proportion of counterfeit euro banknotes remains insignificant when compared to the number of genuine euro banknotes in circulation in Malta, which averaged slightly above 32.41 million in 2024.

Furthermore, the proportion of counterfeit banknotes in Malta is low (0.28%) compared to the total number of counterfeits seized in the euro area, which amounted to 554,000 pieces over the same period.

Among the counterfeit euro banknotes seized in Malta during 2024, the middle denominations continued to be the most counterfeited. The €20 denomination experienced an increase, but the share of the €50 denomination decreased. Together these accounted for 82% of all counterfeits seized in circulation. The share of the lower denominations (€5 and €10) remained constant, while the percentage of the high denominations remained very low.

The table below provides a percentage breakdown by denomination of the total number of counterfeits withdrawn from circulation during 2024 compared to those withdrawn in the euro area.

		€5	€10	€20	€50	€100	€200	€500
Percentage Breakdown	Euro area	1.3	6.8	36.0	43.6	7.9	3.8	0.6
	Malta	2.3	12.5	65.8	16.2	2.9	0.2	0.1

Notwithstanding the low figures of counterfeits reported locally, the Central Bank of Malta continues to advise the public to remain alert with regards to banknotes received in cash transactions. Most counterfeits are easy to detect as they have no security features, or only very poor imitations of such features.

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 on Tel. No. (+356) 2294 2120 or the Central Bank of Malta on Tel. No. (+356) 2550 6012/13 or on the Bank's email address.

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