Germany’s Central Bank, The Deutsche Bundesbank, has released their 2014 counterfeit banknote statistics which shows a large increase in comparison with 2013.
The number of counterfeit banknotes removed from circulation during 2014 by banks, retailers and police authorities totaled 63,000 notes, with a nominal value of €3.3 million, a 63% rise compared to 2013. Though a significant rise, the Bundesbank has said this equates to 8 counterfeit banknotes for every 10,000 inhabitants.
“The incidence of counterfeits has risen significantly, but still remains at a low level”, “Statistically, a person would have to live to the age of 1,250 to ever encounter a counterfeit banknote”, Carl-Ludwig Thiele, Bundesbank Executive Board member responsible for cash management
The Bundesbank has reported that the primary reason for the rise in the value of counterfeit banknotes is due to the €50 denomination becoming more frequently counterfeited compared to previous years, which in 2014 “almost doubled in number”.
Counterfeit banknote denominations 2014, courtesy of the Bundesbank.
In contrast, the number of counterfeit coins identified during the same period has fallen, with the Bundesbank detecting a 13% decrease.
See the Bundesbank’s full article here.
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