Fakes: “MovieMoney” on the front and “Prop copy” on the back (Photos: bundesbank.de)

26,700 counterfeit euro banknotes with a face value of almost 2.9 million euros confiscated in the first half of the year

The number of counterfeit euro payment means in Germany has increased by ten per cent compared to the second half of 2022. According to the Deutsche Bundesbank (https://bundesbank.de), around 26,700 counterfeit euro banknotes with a nominal value of almost 2.9 million euros were withdrawn from circulation in the first six months of this year.

Fraudulent transactions

The number of counterfeit 200 and 500 euro banknotes increased in particular. As a result, the amount of losses in the first half of 2023 was 66 per cent higher than in the previous half-year. “The counterfeit 200 and 500 euro banknotes were mainly used for fraudulent transactions involving luxury goods such as jewellery, gold bars, watches and cars,” said Bundesbank Executive Board member Burkhard Balz.

According to the Bundesbank, the proportion of simple counterfeits with “MovieMoney” printed on the front and “Prop copy” printed on the back continues to be high. In some of these counterfeits, the imprint “MovieMoney” was covered up and replaced by the imitation of a signature, they say.

More fake coins too

While around 40,800 counterfeit coins were detected in German payment transactions in the second half of 2022, there were around 49,000 pieces in the first half of 2023. For every 10,000 inhabitants and year, there were arithmetically around twelve counterfeit coins in Germany in the first half of 2023.

The increase of 21 percent is due to the fact that credit institutions and cash-in-transit companies are still processing backlogs of coins from the Corona pandemic that are no longer fit for circulation. This also included counterfeit coins. The counterfeits occurred exclusively in the three highest denominations.