Significant decline in the number of counterfeit euro banknotes compared to 2016

In 2017, a total of 769 counterfeits were detected among euro banknotes in circulation in Finland. The number of counterfeits declined considerably compared to 2016, when 2,171 counterfeits were detected.

"Counterfeits are detected in Finland very rarely," says Olli Vehmas, Banknote Specialist at the Bank of Finland. "When handling banknotes, however, it is advisable to always check the security features."

Compared with other euro area countries, the numbers of counterfeit euro banknotes in Finland are modest. Of the different denominations of banknotes in circulation, the EUR 50 was the most frequently discovered counterfeit banknote in Finland (328 counterfeits) in 2017, followed by the EUR 20 (255 counterfeits) and EUR 100 (74 counterfeits).

The new series of euro banknotes helps curb counterfeiting. The banknote security features involve the latest technology, as a result of which banknote counterfeiting is even more difficult than before. In the new series of euro banknotes, the EUR 5, EUR 10, EUR 20 and EUR 50 banknotes have already been issued.

A number of security features have been incorporated into euro banknotes for authentication purposes. Banknote authenticity can be checked by using the simple tests, i.e. by feeling the raised print, looking at the banknote and tilting it. In case of doubt, a suspect banknote should be compared directly with one that is known to be genuine. Instructions and guides for checking banknote authenticity can be found on the Bank of Finland website (www.bof.fi > Money and payments).

In a press release issued today (www.ecb.europa.eu), the European Central Bank provides an overview of the situation regarding counterfeit euro banknotes.

For further information on the situation in Finland, please contact
Olli Vehmas, Banknote Specialist, Bank of Finland, tel. +358 9 183 3410
Juha Jääskelä, Detective Sergeant, National Bureau of Investigation, tel. +358 295 486 233