The European Central Bank compiles a peculiar rating among the EU countries with the biggest circulation of fake EUR banknotes. In the latest surveys, France leads the pack, outpacing Italy, Germany, and Spain.
It is too early to present the statistics for 2017 yet. According to the ECB data, 34% of the total volume of the counterfeit EUR bills was detected in France in 2015 and 2016. Counterfeiters succeeded the most in printing banknotes with a face value of EUR 20 and EUR 50 as they account for 87% of all forgeries. The EU law enforcement authorities are on alert. They take decisive actions to investigate such crimes. In 2016, Europol was able to dismantle 19 illegal print shops and arrested about 500 suspects with operations in Spain, France, Greece, Austria, the UK, and Romania. So the efforts were not in vain. Fewer fake banknotes were withdrawn from circulation in the second half of last year than in the same period a year earlier.
Importantly, introduction of new EUR bills with higher protection also made a contribution to forgery prevention. The new EUR 50 banknote was launched into circulation in April 2017. However, counterfeiters also adopt new printing technologies, so it is getting more difficult to differentiate the genuine thing from the fake. Recently, the Italian police nailed the organized crime group who managed to forge EUR 20 bills of the new generation launched in late 2015.
