Counterfeit EUR appears frequently in Germany

According to the German central bank (Bundesbank), police, retailers and banks in Germany detected nearly 56,600 counterfeit notes in 2023 with an estimated value of more than 5 million EUR, up 28% compared to 2022.

How to distinguish between real (left) and fake EUR. Photo: Bundesbank website

According to DW, Bundesbank board member Burkhard Balz said the increase in counterfeit euros was due to a number of large fraud cases, mainly involving the 200 euro ($217) and 500 euro ($541) denominations. The more common 5 euro, 10 euro, 20 euro, 50 euro and 100 euro denominations could also be counterfeited. The Bundesbank estimates that on average there are seven counterfeit notes in circulation in Germany for every 10,000 people.

According to a recent study by the Bundesbank, cash still dominates in Germany, with Germans making nearly 60% of their purchases in cash, much higher than in the Netherlands (11%) or the UK (6%). The average German carries around €100 on their person and keeps €1,300 in cash at home.

The Bundesbank recommends a “feel, look, tilt” tactic to determine signs of a banknote’s authenticity. Individuals can feel part of the image on the front of the note by running their finger over the note. When held up to light, the holographic components will change and the hidden image will appear.

HUY QUOC

Source: https://www.sggp.org.vn/eur-gia-xuat-hien-nhieu-o-duc-post725177.html