11% reduction in counterfeit banknotes, but caution is the CBC recommended

In 2024, 571 items of counterfeit euro banknotes had been withdrawn from the circulation, exhibiting a lower of 11% in comparison with 2023, reviews the Central Financial institution of Cyprus, which advises residents to watch out and to test intimately the banknotes they obtain throughout their money transactions.

In response to a press release, in Cyprus, in 2024, 571 items of counterfeit euro banknotes had been withdrawn from the circulation, exhibiting a lower of 11% in comparison with 2023. 8% of the overall.

In comparison with the variety of real euro banknotes in circulation, the quantity of counterfeit stays very small, the CBC stated.

“Regardless of the very small quantity of counterfeit euro banknotes, the Central Financial institution of Cyprus advises residents to watch out and to element the banknotes they obtain in money in money,” he stated.

It states that the European Central Financial institution has introduced that about 554,000 items of counterfeit euro of assorted values ​​had been withdrawn from 2024, exhibiting a rise of 18.6% in comparison with 2023.

Banks with nominal values ​​of € 50 and € 20 nonetheless present the best counterfeit charges, representing 79.6% of the overall. 97.8% of counterfeit banknotes had been present in eurozone Member States, 1.3% in European Union Member States exterior the eurozone and 0.9% in different elements of the world.

There may be info on the net financial institution of the Central Financial institution of Cyprus and the European Central Financial institution about easy methods to regulate the authenticity of the euro banknotes.

Supply: KYPE