Experts at the European Central Bank reported on the amount of counterfeit money uncovered since the beginning of this year. The data showed that steps taken by the central bank against false coiners were efficient. The report reads that 311,000 fake banknotes were withdrawn from circulation, which is 25% lower than in the previous six months. New measures do work and probably false euros will disappear soon.
The most popular counterfeits were 20- and 50-euro banknotes; they made up 32 percent and 48 percent respectively of all false euros. The banknote that enjoyed least attention was 5 euros. Around mere 1 percent of all 5-euro notes were fakes. The bulk of seized counterfeit money (98 percent) accounts for the countries of the euro zone. Others were found in the EU states not using the euro as their national currency.
In Italy, the police arrested a gang that pioneered illegal issuing of the new 20-euro bill. Meanwhile, Russia experienced a surge in the number of false dollars and euros. In a mere month, 468 counterfeit banknotes were uncovered. Usually, 800 fakes on average are detected over a quarter.
