07/08/2013

Biannual information on euro banknote counterfeiting in Malta

In the first half of 2013, the number of counterfeit euro banknotes reported to the Central Bank of Malta amounted to 877 pieces. Consequently the overall quantity of counterfeits withdrawn from circulation from January to June 2013 was 23% higher when compared with the aggregate figure for the previous six months (July to December 2012), albeit lower than the level reported in the same period of 2012 (January to June 2012).

Table 1 below shows the half-yearly trend in the number of counterfeits withdrawn from local circulation since the introduction of the euro.

Table 1 

	2008		2009		2010		2011		2012		2013
	H1	H2	H1	H2	H1	H2	H1	H2	H1	H2	H1
Number of Counterfeits	642	903	798	520	760	1,663	484	1,059	951	713	877
	1,545		1,318		2,423		1,543		1,664

As a proportion of the estimated amount of euro banknotes in circulation in Malta in the first half of 2013, the number of euro counterfeits detected locally remains insignificant when compared to the number of counterfeits seized in the euro area over the same period, which according to the European Central Bank's press release issued on Friday 19 July, amounted to 317,000 pieces.

Similar to developments in the euro area as a whole, the €20, €50 & €100 notes continue to be the most counterfeited denominations found locally accounting for slightly less than 95% of total counterfeits reported during the first half of 2013.  During the past six months, the share of the €100 note increased from 29% in the last six months of 2012 to almost 58% in this period. Counterfeits per denomination as a proportion of the total counterfeits detected during the period under review are shown in Table 2, together with comparable figures for the euro area.

Table 2

		€5	€10	€20	€50	€100	€200	€500
Percentage Breakdown	Euro Area	0.3	2.6	38.0	44.1	12.4	2.0	0.6
	Malta	0.3	4.3	15.7	21.2	57.9	0.6	0.0

Notwithstanding the low figures of counterfeits reported locally, the Central Bank of Malta continues to advise the public to remain alert with regard to the banknotes received in cash transactions. Genuine banknotes can be easily recognised using the simple "feel-look-tilt" test, which is described on the Bank's website. The Bank is available to provide any support, including training to any local entities which may require such assistance.

Anyone who receives a counterfeit note or suspects that he/she is in possession of a counterfeit note should contact either the Police on 2122 4001 or the Central Bank of Malta on 2550 6012/13 or at its email address.

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