A total 639 counterfeit euro notes were reported to the Central Bank of Malta in the second half of last year, bringing the total number of counterfeits withdrawn from circulation last year to 3,010 pieces, a 38.9% drop when compared to the figures for 2015.

The Central Bank said in a statement that when compared with the number of genuine euro banknotes in circulation in Malta (slightly above 9.7 million on average for the second half of 2016), the proportion of euro counterfeits was insignificant.

It is also low (0.18%) as a proportion of the total number of counterfeits seized in the euro area as a whole over the same period, amounting to 353,000 pieces.

Of all the fake euro banknotes seized in Malta over the second half of the year, the €10 continued to be the most counterfeited denomination (36.9%). During this period, the share of the €50 increased while that of the €20 denomination continued to decrease.

The following table provides a percentage breakdown by denomination, of the total number of counterfeits withdrawn from circulation in the second half of 2016 compared to those withdrawn in the euro area as a whole.

The bank said that the new €50 banknote, with its innovative security features, would be launched on April 4.

It also advises the public to remain alert with regard to banknotes received in cash transactions. Genuine banknotes, it said, could be easily recognised using the simple “feel-look-tilt” test, described on the bank’s website.

Anyone who receives a suspect note should contact the police on 2294 2120 or the Central Bank (e-mail address: nccmt@centralbankmalta.org), tel: 2550 6012/3.