False euros on the rise, 554 thousand counterfeit banknotes withdrawn in 2024

Brussels – The number of counterfeit euros is still rising: in 2024, 554 thousand counterfeit banknotes were detected and removed from circulation. Compared to 2023, this is about 90 thousand more invalid pieces for what continues to be an increasing phenomenon. “The actual number of counterfeits has increased compared to recent years, when the number of counterfeits was exceptionally low following the COVID-19 pandemic,” recognises the European Central Bank in presenting the data. However, the ECB is not alarmed: “In 2024, 18 counterfeits were detected per million genuine banknotes in circulation,” a “very low” counterfeiting rate.

The 20- and 50-euro denominations continued to be the most commonly counterfeited, accounting for more than 75 per cent of the total. 97.8 per cent of counterfeits were found in euro area countries.