Euro Counterfeits on the Rise Again

554,000 counterfeit euro banknotes were withdrawn from circulation in 2024, according to the European Central Bank. This is an increase of more than 18% compared with 2023, and resulted in a ratio of 18 ppm, compared with 16 ppm the previous year.

The last time the half million mark was breached was in 2019, ie. before the pandemic, during which period counterfeiting and economic activity dropped sharply. The former has climbed ever since, but even so – the ratio is far below previous levels, with the ppm figure surpassing 30 as recently as 2017, and averaging nearly 50 in the middle of the last decade.

As in previous years, the €20 and €50 accounted for the majority of counterfeits – 36% and 43.6% respectively. The combined total of 79% was higher than 2023’s 70%.

Some, but not all, National Central Banks (NCBs) have also published the counterfeiting rates specific to their countries, which vary considerably.