Over 21,000 fake euro bills have turned up in European Union member states in the first six months since the cash launch on January 1, the European police organisation, Europol, said today.
'The overall number of reported cases is far less than was originally anticipated', Europol said in a statement. The figures are a 'positive result' based on cooperation between Europol, the national police forces and the European Central Bank.
'During the first six months of this year 21,965 counterfeit euro bank notes were recorded. This figure represents less than 7% of the total number of counterfeits of legacy currencies recorded by euro area national central banks during the same period in 2001,' the ECB said in a statement today.
'Seen in this context, the extent of counterfeiting of the euro is, so far, very low, although counterfeit activity recently seems to have increased somewhat,' it said.
The ECB also said the few fake bills were relatively easy to identify. 'The quality of counterfeit euro banknotes has generally been low. With a few exceptions, mainly concerning the 50 euro denomination, they stem from amateur operations,' the statement said. Europol also pointed out the quality of counterfeit euro notes 'has generally been low'.
The police organisation noted that only 70 false euro coins were found.
