Increase in counterfeit euro banknotes of very low quality

In the Netherlands, the increase can almost entirely be attributed to counterfeit €100 and €200 notes (see Chart 1). Large batches of counterfeit notes of very low quality were found in several fraud cases. These cases aside, the Netherlands has been on a downward trend. For example, the number of counterfeit €50 notes has been decreasing since 2015, even though this denomination is the most frequently counterfeited worldwide (see Table 2).

The odds of being given a counterfeit banknote are very small. There are a total of 29 billion genuine euro notes in circulation worldwide. Euro banknotes are well protected against counterfeiting thanks to their security features such as watermark and hologram. It only takes a few seconds to check a euro note for authenticity. In recent years, the proportion of very low-quality counterfeits has been increasing in the Netherlands (see Chart 2). With a few simple checks they are easy to detect as they have no security features, or only very poor imitations of them. In 2022, two in three (66%) counterfeit notes found in the Netherlands were of this very low quality.

Many retailers have detection devices to check banknotes for authenticity. Consumers can use a special DNB app on their smartphones to check banknotes. More information on authenticity checking can be found at Counterfeit banknotes │De Nederlandsche Bank (dnb.nl). Careful checks ensure that suspect banknotes are promptly detected. This can prevent criminals from paying with counterfeit notes and causing recipients to suffer a financial loss.

For more information, please contact Dorinde Meuzelaar on +31 (0)6 519 63 073.