The Central Bank has confirmed reports that a number, albeit small, of counterfeit €50 banknotes are in circulation.

The Central Bank said the notes are more common in other European countries.

"In this regard, the situation is not as alarming as circulating e-mail messages deem it to be," a Central Bank spokesman said. "Furthermore, these notes are not as faithful to the genuine ones."

Counterfeit banknotes can be detected through the Look, Feel, Tilt method. When placed against a light source, a banknote should contain a watermark, thread and see-through number. All three are visible from both sides of the note.

The notes also contain raised print and have a unique feel due to a special printing process. When tilted, the hologram will shift. The back of the €5, €10 and €20 notes include a stripe while the €50, €100, €200 and €500 notes have a colour-changing number.

In the case of the €50 note, when comparing the watermark of a genuine and suspect fake banknote, a clear "50" is shown on the genuine. The thread should be compared against a light source for a clear and sharp image and the colour shifting ink should be checked.

On a genuine banknote, the large denomination figure on the back, bottom right corner changes colour from purple to olive as the banknote is tilted. The colour on the fake banknote does not shift, remaining purple.

When feeling the note it should be rough and matt.

For further information and an interactive flash animation of distinguishing between counterfeit and genuine notes visit www.ecb.int/bc/euro/banknotes/security/html/index.en.html.