In the first half of 2016, a total of 703 counterfeit euro banknotes were detected among banknotes in circulation in Finland. The number of counterfeits increased slightly in Finland, compared with the same period in the previous year. In 2015, a total of 1,085 counterfeits were detected: 521 in the first half of the year and 564 in the second half.
Compared with the situation in other euro area countries, the numbers of counterfeit euro banknotes in Finland are still modest.
‘Although the number of counterfeits has increased during the spring, the likelihood of receiving a counterfeit euro banknote is still very low,’ notes Jussi Kangas, Adviser from the Bank of Finland. ‘It is, however, advisable to pay attention to the security features of the banknotes when handling them.’
The new EUR 5, EUR 10 and EUR 20 banknotes are already being used, and the new EUR 50 note will be the next to enter into circulation on 4 April 2017. The new security features make the counterfeiting of the note more difficult than before.
| Period | 1/2014 | 2/2014 | 1/2015 | 2/2015 | 1/2016 |
|---|---|---|---|---|---|
| Number of counterfeits | 188 | 314 | 521 | 564 | 703 |
Of the different denominations of banknotes, the EUR 50 was the most frequently discovered counterfeit banknote in Finland (262 counterfeits) in the first half of 2016, followed by EUR 20 (188 counterfeits) and EUR 10 (187 counterfeits).
A number of security features have been incorporated into euro banknotes for recognising genuine banknotes. Banknote authenticity can be checked using the simple FEEL-LOOK-TILT test described in Eurosystem publications. In case of doubt, a suspected 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.
In a press release issued today (www.ecb.europa.eu) the European Central Bank provides an overview of the counterfeit situation regarding euro banknotes.
For further information on the situation in Finland, please contact:
Jussi Kangas, Adviser, Bank of Finland, tel. +358 10 831 3432