In the second half of 2012, the number of counterfeit euro banknotes reported to the Central Bank of Malta amounted to 713, around 25 per cent lower than the 951 counterfeits found between January and June.

This brought the total of counterfeits withdrawn from circulation for 2012 to 1,664, up 7.8 per cent on the previous year’s level.

There are 18.5 million genuine banknotes in circulation in Malta.

The number of counterfeits in circulation in Malta is extremely low, even when compared to the 280,000 pieces seized in the euro area, the Central Bank said.

Similar to developments in the euro area as a whole, the middle denominations (€20, €50 and €100) continued to be the most counterfeited denominations found locally, amounting to 95.7 per cent of all counterfeits.

The Central Bank has continued to call on the public to remain alert. Genuine banknotes can be easily recognised using the simple “feel-look-tilt” test. A demonstration is available at www.centralbankmalta.org.

Counterfeit notes must be reported to the police or the Central Bank.