A total of almost 42,000 counterfeit euro banknotes were withdrawn from circulation.
(Photo: dpa)
Frankfurt The corona restrictions pushed the damage caused by counterfeit money in Germany and Europe last year to its lowest level in almost 20 years. “This is probably due to the reduced sales opportunities for manufacturers and distributors of counterfeit money,” explained Bundesbank board member Johannes Beermann on Friday. “There were major restrictions, especially in areas where cash is mainly used for payment, such as fairs or Christmas markets.” There were also more frequent checks at the borders.
Police, retailers and banks withdrew 41,950 counterfeit euro banknotes from circulation in Germany last year. That was almost 29 percent less than a year earlier. The damage caused by counterfeit money in Germany fell by a good third (34.5 percent) to 1.9 million euros in 2021 compared to the previous year.
This is the lowest level since the introduction of euro cash in 2002, when it was around 900,000 euros. The €20 and €50 banknotes, which together account for 78 percent of counterfeits, continue to be popular with criminals.
In Europe as a whole, the number of euro blossoms seized fell last year to its lowest level in almost 20 years. The euro central banks registered 347,000 counterfeit notes, almost a quarter (24.6 percent) fewer than in the first Corona year, according to the European Central Bank. Only in 2002, when there were 167,000 flowers, fewer fakes were seized.
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The volume of damage for all of Europe fell from 21.5 million euros in 2020 to 17.5 million euros now. This is the lowest level since 2002 when it was 9.4 million euros.
With new security features, the currency watchdogs have made the European common currency more counterfeit-proof in recent years. For some time now, criminals have been increasingly using counterfeit banknotes, which are offered on the Internet as play money or film props under the terms “Movie Money” or “Prop copy”.
The proportion of “Movie Money” in the flowers seized in Germany fell within a year from 30 percent to almost 22 percent. “I suspect that people are paying more attention to it now,” said Beermann. Counterfeit money will not be replaced.
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