Fake banknotes reported to the authorities in the second half of last year increased by 13.3 per cent over the previous year.

However, the total number of counterfeit notes withdrawn from circulation throughout the whole year dropped by 14.5 per cent.

The Central Bank of Malta said yesterday that, at 990 pieces, the number of counterfeit notes withdrawn from circulation, was 116 more than that for the same period the previous year, although significantly less than the record experienced in the second half of 2010.

The total figure for 2010 (2,423) was much higher than in 2009 (1,318) and the 1,543 in 2011. The number of reported fake notes continued to grow in 2012 and 2013, with 1,664 and 1,751, respectively.

A total of 1,497 counterfeit notes were withdrawn from circulation last year.

When compared with the number of genuine euro banknotes in circulation in Malta – slightly above 12.62 million in the second half of 2014 – the proportion of the counterfeit notes remained insignificant, the bank pointed out. It is also very low (0.20 per cent) in relation to the total number of counterfeits seized in the whole euro area over the same period. According to the European Central Bank, these amounted to 507,000 pieces.

The €20 note again topped the list of fake bills withdrawn in Malta in the second half of 2014. In fact, nearly 60 per cent of all bills seized were €20 ones.

As the share of counterfeit €50 and €100 notes continued to fall, fake €10 notes rose in number from 2.4 per cent to 14.7 per cent, probably because such fake notes were disposed of before the launch of the second series of the €10 note.

The Central Bank urged people to remain watchful over banknotes they received in cash transactions.

Genuine banknotes can be recognised using the simple ‘feel-look-tilt’ test (see http://www.centralbankmalta.org/euro-banknotes-security-features ).

The police can be contacted on 2122 4001 and the Central Bank on 2550 6012/13 or at nccmt@centralbankmalta.org.