Record number of counterfeit banknotes in the first half of 2024

The Bundesbank has reported a significant increase in counterfeit euro banknotes in the first half of 2024, with a particular rise in fake ten and twenty euro notes. Despite a decrease in counterfeit 200 and 500 euro notes, there have been cases of fraud involving 100 euro notes.

The total amount of damage caused by counterfeit banknotes has only slightly increased, but there has been a 19% rise in counterfeit coins, mainly two euro pieces. Many of the counterfeits have been marked with 'MovieMoney', which has sometimes been replaced by signatures.

Overall, the incidence of counterfeit money remains relatively low, with nine counterfeit banknotes per 10,000 residents. The Bundesbank has reported the highest number of counterfeit banknotes in seven years, with 38,578 fakes discovered.

Criminals are primarily targeting 50 euro notes, and there have been incidents of counterfeit money being used in the purchase of used cars. The European Central Bank is working on a redesign of the euro banknotes, with citizens expressing a preference for themes from European culture, rivers, and birds in surveys.

The final design and issuance date for the new notes are expected to be determined in 2026.