484 counterfeit banknotes found in six months
484 counterfeit euro banknotes were reported to the Central Bank of Malta in the first six months of this year, the smallest number since Malta adopted the euro.
"When compared with the number of genuine euro banknotes in circulation in Malta (slightly above 22 million on average for the first half of 2011), the proportion of euro counterfeits remains insignificant. It is also very low when compared to the number of counterfeits seized in the euro area in the same period, which amounted to 295,553 pieces," the Central Bank said.
|
2008/1 |
2008/2 |
2009/1 |
2009/2 |
2010/1 |
2010/2 |
2011/1 |
||
|
Counterfeits |
Before Circulation |
8 |
13 |
1 |
21 |
- |
154 |
- |
|
In Circulation |
634 |
890 |
797 |
499 |
760 |
1,509 |
484 |
|
|
Total |
642 |
903 |
798 |
520 |
760 |
1,663 |
484 |
|
As in the euro area as a whole, the €20 and €50 continued to be the most counterfeited denominations found locally. During the past six months, the share of the €20 counterfeit decreased whilst that of the €50 increased. These two most counterfeited denominations together accounted for 89% of the total during the first half of 2011.
|
|
|
€5 |
€10 |
€20 |
€50 |
€100 |
€200 |
€500 |
|
Percentage Breakdown |
Euro Area |
0.5 |
1.5 |
43.0 |
36.0 |
16.0 |
2.5 |
0.5 |
|
Malta |
0.6 |
1.9 |
52.7 |
36.4 |
8.1 |
0.4 |
0.0 |
The Central Bank advised the public to remain alert with regard to the banknotes received in cash transactions. Genuine banknotes can be easily recognised using the simple “FEEL-LOOK-TILT” test as can be found on the Bank’s website: www.centralbankmalta.org/site/counterfeit.html. In case of doubt, however, a suspect banknote should be compared directly with one that is known to be genuine. Anyone who suspects that they may have received a counterfeit should contact either the police on 21224001 or the Central Bank of Malta on 2550 6008/6012 or email csu@centralbankmalta.org.
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Mr Tony Camilleri
Aug 1st 2011, 18:17
By the way, this is the strong currency that we have have joined and are making so many sacrifices to bail out other bankrupt countries.
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100011256/how-to-ruin-italy/
How to Ruin Italy
http://uk.news.yahoo.com/analysis-euro-u-debt-crises-keep-periphery-pressured-132652350.html
Analysis - Euro and U.S. debt crises to keep periphery pressured
http://uk.news.yahoo.com/bank-cyprus-warns-bailout-threat-123509340.html
Bank of Cyprus warns of bailout threat
http://uk.news.yahoo.com/cyprus-faces-imminent-bailout-threat-biggest-bank-says-122512597.html
Cyprus faces imminent bailout threat, biggest bank says
http://uk.news.yahoo.com/eu-exec-says-bailout-cyprus-not-discussed-113608666.html
EU exec says bailout for Cyprus not discussed (Means they did)
http://uk.news.yahoo.com/banks-rise-u-debt-accord-sparks-ftse-rally-081643343.html
European shares fall after weak U.S. manufacturing data
Mr C Cassar
Aug 1st 2011, 19:29
And what about the countries with no issues in the EU (the majority), such as Germany, France, Netherlands, Denmark, Sweden, Austria, Czech Republic, Slovenia, Luxembourg, Estonia ....?
Without the Euro Malta would have gone the same way as Iceland already by now - bankrupt.
Mr Tony Camilleri
Aug 1st 2011, 22:05
NO Mr C Cassar, Malta would have weathered the recession better because it would not have been bound by the ECB decisions. You criticize everything Maltese because notwithstanding your Maltese surname you yourself have said that you are not a Maltese citizen.
As for the countries you mentioned, Denmark, Sweden and the Czech Republic are NOT in the eurozone.
Shows how you know your eurozone.
Now enjoy today's news about Cyprus.
http://uk.news.yahoo.com/bank-cyprus-warns-bailout-threat-123509340.html
Bank of Cyprus warns of bailout threat
http://uk.news.yahoo.com/cyprus-faces-imminent-bailout-threat-biggest-bank-says-122512597.html
Cyprus faces imminent bailout threat, biggest bank says
http://uk.news.yahoo.com/eu-exec-says-bailout-cyprus-not-discussed-113608666.html
EU exec says bailout for Cyprus not discussed (Means they did)
Reuben D. Spiteri
Aug 1st 2011, 14:38
I heard that the Euro is heading toward being made of plastic (polymer) as it is much harder to counterfeit than current cotton paper ones. Perhaps they should hurry up the process.
After all, one could simply take his paper money to the bank who check for counterfeits, then gives the end user the same amount in new, plastic money.
Or more easily still they could just phase out the old banknotes via ATMs and branches, leaving the handing in of old notes to buisnessmen and deposits.
The average life of a banknotes is about a mere one year these days, so they would need changing anyway while the plastic one is, presumably, more durable as among other things it's impervious to water in case someone forgets to empty his wallet before swimming.
Albert Ostimani
Aug 1st 2011, 15:10
If the euro was made out of plastic...than how the world is going to survive plastic?!
Reuben D. Spiteri
Aug 1st 2011, 16:06
Plastic notes last presumable longer and they can always be recycled I suppose.
The issue here is to make counterfeiters' lives hell, and who wouldn't like that?
Mr James Tyrrell
Aug 1st 2011, 19:00
We had plastic banknotes here in the UK and they are a total pain. Believe me as soon as you get one you want to get rid of it!
Dennis Zammit
Aug 1st 2011, 20:46
In the UK, there was only ONE polymer (commonly referred to as plastic) bank note and this was only a £5 issued in Northern Ireland by Northern Bank Ltd. dated 1999 and 2000 as a commemorative note of the Millennium and Y2K.
So to which UK polymer bank notes are you referring?
Polymer bank notes cost more to print but have much more security features and have a longer life span thus rendering them much cheaper than paper bank notes. One can also switch to hybrid bank notes which a re a mixture of polymer and paper.
Recently, the Bank of Canada announced that they will be switching all their bank notes to polymer from 2012.
Reuben D. Spiteri
Aug 1st 2011, 20:58
@James Tyrell
How so? What are the drawbacks?
Dennis Zammit
Aug 1st 2011, 12:53
According to an article in Wiener Zeitung, the second generation of euro notes is slated for introduction in 2013 or 2014. The new notes will be designed by the same Austrian designer, Robert Kalina, and retain their basic color schemes, but security will be enhanced.
http://www.wienerzeitung.at/nachrichten/wirtschaft/international/38047_Euro-Serie-2.0-in-den-Startloechern.html
Mr Michael Debono
Aug 1st 2011, 12:01
Counterfeit 50 and 20 Euros has already been reported in theForeign press two weeks ago. Something isbeing done to further insure that conterefeit money does not occur. According to foreign press tens of millios have been counterfeit.
Mr Chris Debono
Aug 1st 2011, 10:34
I recently read a funny story from an old book
'Cause of inflation?
A doctor went to a hotel and left a 10 pound note with the owner. He then went around the city, and the owner of the hotel used the 10 pound note to pay a tailor, who then paid a merchant for some goods, who then used it to book a few nights in this hotel. However, when the doctor returned, the hotel owner gave him his 10 pound note back, the doctor responded by ripping it to shreds and saying that the note was counterfeit!'
Mr Tony Camilleri
Aug 1st 2011, 10:29
It is not insignificant to whose who have them inadvertently because they lose the amount.
This never happened when we had our Malta Lira.
Another reason to leave the euro and the eu.
William Attard McCarthy
Aug 1st 2011, 11:35
Int bis-serjeta'???
Ma tiftakarx kemm kien ikun hawn Lm10 u Lm20 foloz fic-cirkulazzjoni? Ma tiftakarx it-twissijiet li kien johrog il-Bank Centrali kultant zmien?
Mr C Cassar
Aug 1st 2011, 11:40
Wronge yet again:
http://www.timesofmalta.com/articles/view/20100424/local/barman-in-possession-of-counterfeit-money.304171
Why should Malta leave the EU when it's received €500 million more than it has contributed since accession to the zone in 2004?
http://www.timesofmalta.com/articles/view/20110701/local/Malta-will-fight-to-remain-net-beneficiary.373265
Mr Jo Camm
Aug 1st 2011, 11:41
Mr Camilleri - Fuq li stess ragunament tieghek - Mill EU qed nircievu miljuni ta' Euros f'ghajnuna ghal dik u l'ohra. Mela jmissna dhalna fl'EU qabel.
Qed nara reklam li ghogobni "Parots are best suited for the wild, Not for ..... (i would ask Blogs)
Some people never grow up.
Mr joseph saliba
Aug 1st 2011, 11:49
If you're so sure. Maybe t'was not worth the risk. In those time while in Bonn No shop or market accepted it and only one bank converted the Maltese Lira into Deutschmark
Mr Tony Gatt
Aug 1st 2011, 11:52
Mr. Camilleri
An English M.P. has said the 500 euro note was a drug-dealer's dream because you could carry so much money in a suitcase.
Also it is rumoured that if you test a used 500 euro note the chances are you will find traces of cocaine on it.
Carlos Espinal
Aug 1st 2011, 11:52
Oh ok...
noted
John Portelli
Aug 1st 2011, 11:59
Mr.Tony Camilleri, you must have very short memory. A good number of twenty liri notes were in circulation. Five men were arrested in St.Pauls Bay (Qawra), three Italians and two Maltese from B'Kara. This just to mention one occassion. The only relief is that 20 euros is not wothed 20 liri.
Mark Cams
Aug 1st 2011, 12:06
Mr. Camilleri are youi saying that we never had any counterfeit Malta lira? because we did.
Mr Michael Debono
Aug 1st 2011, 12:06
Counterfeit money target those in circulation in quantities. Trying to countrtfeit Maltese money was useless, more would be spent to produce a counterfeit Lira than to manufacture it. Small is beautiful.
Mr Tony Camilleri
Aug 1st 2011, 13:35
Mr C Cassar MALTA NEVER received more than it paid when you consider what we have lost and what it is costing us to implement eu laws every year.
This year we are paying the eu €186,000 EVERY day just for membership which the eu increases every year.
According to a UK organization implementing eu laws is costing us more than €70 Million every year.
Loss of customs duties and levies which are now taken by the eu while we pay the customs officers to collect them.
Loss of Italian Protocol.
Loss of interest on our foreign reserves that had to eb trabsferred to the ECB in Frankfurt which are now taken by the eu.
Loss of cheap oil from Libya because the eu considered that we were causing unfair competition to its mainland manufacturers.
Invasion by foreign workers and illegal immigrats which are costing us an arm and a leg.
Contracting debt to bail out Greece. Ireland and Portugal and promising the eu around 1 BILLION euros for its emergency bailout fund which the eu now also wants to double.
NO Mr C Cassar, we are far worse off since we joined the crap colonialist dictatorial eu.
Mr Jo Camm Naħseb li dak jgħodd għal dawk li jemmnu dak li bellgħalhom EFA u GONEZI.
Mr joseph saliba I never had any problem in exchanging the Malta Lira, whether in the UK, Spain, France, Italy, Switzerland and other places.
Mark Cams Maybe I and none of our families never had one counterfeit Malta lira.
Michael Seychell
Aug 1st 2011, 14:00
Mr. T. Camilleri - Trux huwa dak li ma jridx jisma - Ghama hu dak li ma jridx jara - Iblah hu li ma jridx jifhem u Hmar huwa dak li ma jridx jitghallem !
Michael Seychell
Tal-Pieta
Albert Ostimani
Aug 1st 2011, 15:23
@Mr. Tony Camilleri - Jista jkun li mill-EU qed nircievu flus foloz ukoll?
Mr Vince Cachia
Aug 1st 2011, 17:05
Who told you that this never happened before with the old Maltese Pound. I was given false metal pounds several times as change from super markets pretending that hey did not know about them!!
Mr Tony Camilleri
Aug 1st 2011, 18:15
Michael Seychell bħal dawm moħħhom marbut li jridu jibqgħu jservu lill-kolonjalisti dittatorjali ta' l-ue.
To all those who are saying that they had been given false Maltese Liri, I am not contesting that it may have happened to you but It never happened to me. However, it has happened many times to the euro as one can see on the international media.
http://www.guardian.co.uk/science/2004/nov/25/thisweekssciencequestions
How difficult is it to forge a euro?
Mr J Curmi
Aug 1st 2011, 18:52
And you told you that the CBM did not come across false Maltese Lira...unfortunately fraudsters hit all currencies even the Maltese lira....there were more than you think my friend....as usual....shooting from the hip without even bothering to think....what silly comments...
Mr Tony Camilleri
Aug 1st 2011, 21:58
Mr J Curmi numbers are that count.