A total of 877 counterfeit euro banknotes was reported to the Central Bank of Malta in the first half of this year, 23 per cent more than in the previous six months.

As a proportion of the estimated amount in circulation in Malta, the number remains insignificant compared to the euro area as a whole.

According to the European Central Bank, 317,000 fake euro bank-notes were withdrawn between January and June.

The Central Bank said the €20, €50 and €100 notes continued to be the denominations most likely to be forged, accounting for slightly less than 95 per cent of the total reported. The share of fake €100 notes increased to almost 58 per cent from 29 per cent.

Despite the “low figures of counterfeits” reported locally, the Central Bank of Malta advised the public to remain alert. Genuine banknotes can be easily recognised using the simple “feel-look-tilt” test.

Anyone who receives a counterfeit note or suspects they are in possession of one should contact either the police on 2122 4001 or the Central Bank of Malta either on 2550 6012/13 or via e-mail at csu@centralbankmalta.org.