ECB Takes Counterintuitive Approach To Stopping Counterfeiters

Author:
Publish date:
Updated on

It seems that when making phony euro banknotes, forgers like to get as much bang for the bogus buck as possible, and therefore favor dummying up twenties and fifties. So, to commemorate a three-year high in fake notes yanked from circulation, the ECB is rolling out a new €10 bill.

The European Central Bank on Monday said the number of counterfeit bills removed from circulation hit a three-year high in the second half of last year. The announcement coincided with the bank's unveiling of its newly designed €10 note, the second note in a new series that the ECB has unveiled to make its bank notes harder to counterfeit.

The new €10 note was intended to help "stay ahead of counterfeiters," the ECB said….

Still, with over 15 billion genuine notes in circulation at any time, the odds of getting counterfeit money remain quite low. The most frequently faked bills are the €20 note and the €50 note. Together they make up 78% of counterfeited euro notes, the ECB figures show.

More Fake Euro Bills in Circulation Last Year [WSJ]

Related

ECB Feels Great About Doing Nothing

Flu isn't the only thing going around. An epidemic of economic optimism has seized the European Central Bank, and its president thinks that should be enough to get the continent's economy going once again.