Counterfeit EUR appears frequently in Germany

According to the German central bank (Bundesbank), police, retailers, and banks in Germany discovered nearly 56,600 counterfeit banknotes in 2023 with an estimated value of over €5 million, a 28% increase compared to 2022.

How to distinguish between real (left) and fake EUR. Photo: Bundesbank website

According to DW, Bundesbank board member Burkhard Balz said the increase in counterfeit euros is due to several large-scale fraud cases, mainly involving 200 euro ($217) and 500 euro ($541) denominations. The Bundesbank stated that the more common 5 euro, 10 euro, 20 euro, 50 euro, and 100 euro denominations can also be counterfeited. The Bundesbank estimates that, on average, seven counterfeit notes are in circulation in Germany for every 10,000 people.

According to a recent study by the Bundesbank, cash remains dominant in Germany, with Germans making nearly 60% of purchases with cash, significantly higher than in the Netherlands (11%) or the United Kingdom (6%). The average German carries around 100 EUR in cash and keeps 1,300 EUR in cash at home.

The Bundesbank recommends a "feel, look, tilt" strategy to identify signs of authenticity on banknotes. Individuals can sense a portion of the image on the front of the note by running their finger across the banknote. When held up to the light, the three-dimensional components will change and the hidden image will become visible.

HUY QUOC

Source: https://www.sggp.org.vn/eur-gia-xuat-hien-nhieu-o-duc-post725177.html