Drop in counterfeit euro banknotes

The number of counterfeit euro banknotes seized in circulation in the first half of this year was the lowest since the adoption of the new currency, the Central Bank of Malta reported yesterday.

When compared to the average of 22 million banknotes in circulation for the same period, the 484 counterfeit notes seized represented an “insignificant proportion”, the bank said. Following the trend in the eurozone as a whole, the €20 and €50 notes continue to be the most counterfeited denominations found locally.

Despite the positive trend, the Central Bank advised the public to remain vigilant with regard to banknotes received in cash transactions. Genuine banknotes can be easily recognised using the feel-look-tilt test, which can be found at www.centralbankmalta.org/site/counterfeit.html.

Anyone who suspects they may have received a counterfeit note should contact either the police on 2122 4001 or the Central Bank on 2550 6008/6012.