467,000 counterfeit euro banknotes withdrawn in 2023, more than 2022

Brussels – In 2023, 467,000 counterfeit euro banknotes were withdrawn from circulation, “one of the lowest levels” ever, according to data released by the European Central Bank. Just 16 counterfeits were detected per million genuine banknotes in circulation, which is one of the smallest proportions since the introduction of euro banknotes, the central bank said. Although the percentage is “very small,” on an absolute level, the situation tells a different story. The number of counterfeits actually increased compared to 2022 (376 thousand), when it was exceptionally low following the coronavirus pandemic (COVID-19). In any case, the number of counterfeits has remained lower than in the years leading up to the pandemic years, the ECB points out.

The 20 and 50 euro denominations were the most counterfeited in 2023. Together, they  accounted for over 70 percent of the total. Almost all of the ‘counterfeit’ pieces were detected and withdrawn from circulation in Eurozone countries (97.2 percent). The rest occurred in EU countries that do not use the single currency (1.9 percent) and non-EU countries (0.9 percent).