The European Central Bank published its biannual report on euro banknote counterfeiting which shows that the overall quantity of counterfeits withdrawn from circulation from January to June 2012 was 15.2% lower compared with the figures for the same period in 2011.

The biannual report on euro banknote counterfeiting published by the European Central Bank (ECB) shows that the overall quantity of counterfeits withdrawn from circulation from January to June 2012 was 15.2% lower compared with the figures for the same period in 2011. At the same time, there was a decrease of 19.0% as regards the quantity recovered in the first half of 2012 compared with the previous six months. In the second half of 2011, 310,000 counterfeit euro banknotes were withdrawn from circulation.

The majority (97.5%) of counterfeits recovered in the first half of 2012 were found in euro area countries, with only around 2.0% being found in EU Member States outside the euro area and 0.5% being found in other parts of the world. The ECB assured that the Eurosystem - i.e. the European Central Bank (ECB) and the 17 national central banks of the euro area - invests considerable effort in ensuring that the public is well informed about how to recognise a counterfeit banknote and, for professional cash-handlers, that banknote-handling and processing machines can reliably identify and withdraw counterfeits from circulation.

The Eurosystem also continues to advise the public to remain alert with regard to the banknotes received in cash transactions. In case of doubt, however, a suspect banknote should be compared directly with one that is known to be genuine. Anyone who suspects that they may have received a counterfeit should contact either the police or – where national practice allows – the relevant national central bank.