In the first part of 2018, a total of 341 counterfeit euro banknotes were detected among banknotes in circulation in Finland. The number of counterfeits was nearly the same as in the corresponding period of the previous year. In Finland, the numbers of counterfeit euro banknotes are small, compared with the situation in other euro area countries.
“Counterfeits are recovered rapidly in Finland, and are removed from circulation, thanks to authentication devices and the vigilance of the general public”, says Olli Vehmas, Banknote Specialist at the Bank of Finland.
Of the different denominations of banknotes in circulation, the EUR 50 was the most frequently discovered counterfeit banknote in Finland (158 counterfeits) in the first part of 2018, followed by the EUR 20 (98 counterfeits) and EUR 100 (35 counterfeits).
“It is highly unlikely that you will come across a counterfeit banknote in Finland. Receiving counterfeit euro banknotes from an ATM is in principle impossible”, notes Olli Vehmas.
|
Period (the first or second half of the year) |
1/2016 |
2/2016 |
1/2017 |
2/2017 |
1/2018 |
|
Number of counterfeits |
703 |
1,468 |
345 |
424 |
341 |
Counterfeiting is prevented with the new series of euro banknotes. 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 been issued so far. The last banknotes to be issued in the new series are the EUR 100 and EUR 200 banknotes.
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.
In a press release issued today 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