The European Commission made a proposal to strengthen the protection of the euro and other currencies against counterfeiting through criminal law measures. In particular, the proposed Directive includes the strengthening cross-border investigations and introducing minimum penalties, including imprisonment, for the most serious counterfeiting offences.

The European Commission presented a Directive proposal with measures that include the strengthening of cross-border investigations and introducing minimum penalties, including imprisonment, for the most serious counterfeiting offences to strengthen the protection of the euro and other currencies against counterfeiting through criminal law measures. In the second half of 2011, 310,000 counterfeit euro banknotes were withdrawn from circulation.

In addition, the proposal will require Member States to ensure that the National Analysis Centres and the National Coin Analysis Centres are also able to examine euro counterfeits during on-going judicial proceedings to enable the detection of further counterfeit euros in circulation. The Directive also enable the analysis of seized forgeries during judicial proceedings in order to detect further counterfeit euros in circulation.

In total, there are around €913 billion worth of euro notes in circulation around the world and €16 billion worth of euro coins. The euro and other currencies continue to be targeted by organised crime groups active in money forgery. Since its introduction in 2002, counterfeiting of the euro has led to financial damage amounting to at least €500 million.