How many counterfeit banknotes are there in circulation?

The number of counterfeit euro notes remained low in 2023, according to the European Central Bank.

Some 467,000 counterfeit euro banknotes were removed from circulation. The chance of receiving a counterfeit banknote is very low as their number remains low compared to the number of genuine euro banknotes in circulation. In 2023, for every million genuine euro banknotes in circulation, 16 counterfeits were discovered. This is one of the lowest figures since the introduction of euro banknotes.

Although the ratio of genuine banknotes to counterfeits is very small, the actual number of counterfeits increased compared to 2022. The 20 and 50 euro notes continue to record the highest levels of counterfeiting. These two denominations together accounted for more than 70% of all counterfeit banknotes (see table below). 97.2% of counterfeit banknotes detected in eurozone countries, 1.9% in member states EUoutside the euro area, and 0.9% in other parts of the world.

Majority Counterfeit banknotes are easy to detect because security features are either missing or a very poor imitation. There is no reason to worry about counterfeit notes, but we must be vigilant. Authenticity can be easily verified using the three-test method (“touch test, visual test and angular test”) described on the dedicated security features website and on the websites of the national central banks of the euro area.

The Eurosystem helps cash handling professionals ensure that successfully tested banknote processing, counting and verification machines can reliably detect and remove counterfeits from circulation.

Let us remind you that Using counterfeit banknotes for payment is a criminal offense for which criminal charges may be brought. If you suspect you have received a counterfeit banknote, you should compare it directly with a banknote that has been proven to be genuine, the ECB says. If your suspicions are found to be justified, you should notify the police or, depending on national regulations, the relevant national central bank or your commercial bank. The Eurosystem actively supports law enforcement agencies in the fight against counterfeiting and money laundering.

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