Counterfeit euro banknotes are on the rise, with a reported 72,400 cases last year, a 28% increase. Criminals are increasingly targeting smaller denominations, leading to reduced financial losses. Many counterfeits are easily identifiable, often labeled as “Movie Money.” The Gießen area has seen significant incidents, with businesses absorbing the losses. Authorities urge consumers to verify banknotes upon receipt, as counterfeiting is a serious crime punishable by imprisonment. Recent investigations have uncovered substantial amounts of counterfeit currency.
Increase in Counterfeit Euro Banknotes
The euro banknotes, designed with advanced security features, are facing an alarming rise in counterfeit incidents. Criminals are finding ways to introduce more fraudulent notes into circulation, which, while not as refined, can often escape detection in busy environments.
Last year, the Bundesbank noted a significant uptick in counterfeit euro banknotes, registering 72,400 cases nationwide—a 28 percent increase compared to the previous year. According to Burkhard Balz, who oversees cash management at the Bundesbank, the most frequently counterfeited denominations were the twenty and fifty euro notes.
Shifts in Counterfeit Trends
In 2024, counterfeiters shifted their focus toward smaller denominations, which likely resulted in decreased overall financial damage, dropping from approximately five million euros to around four and a half million euros, based on Bundesbank reports.
Balz pointed out that many of the counterfeits were easily identifiable, often marked with phrases like “Movie Money” or “Prop Copy,” indicating their original purpose as props for films and theater. These notes typically lack the hallmark security features found on genuine euro currency, such as watermarks, holograms, and emerald numbers, which counterfeiters seldom attempt to replicate.
In addition to banknotes, the Bundesbank also reported an increase in counterfeit coins, with the total rising by about 25,000 to 141,000. Two-euro coins were particularly targeted, distinguishable by their inferior minting quality.
Counterfeit incidents were particularly prevalent in the Gießen area, as reported by the police in Mittelhessen. Local businesses, including restaurants and shops, often discovered counterfeit notes only during cash counts or while making bank deposits, leading to financial losses.
One notable case involved a bakery in Gießen that accepted a counterfeit twenty euro note. Branch manager Malte Katz shared that the note was poorly made, lacking a watermark and made from cheap paper, but in the rush of weekend business, his staff overlooked the signs of forgery.
Despite the increase in counterfeit cases, victims are not reimbursed for their losses, leaving businesses to absorb the financial impact. Katz expressed his frustration upon discovering the counterfeit during end-of-day accounting, stating, “It annoys me; it was unfair of the criminals.” The counterfeit note was not refunded to him.
Overall, there was a marked rise in counterfeit offenses across Hesse last year, as noted by the Hesse State Criminal Police Office. The anonymity and speed of transactions with counterfeit money make it easier for criminals to exploit merchants who often neglect to scrutinize the bills they accept.
To combat this issue, Burkhard Balz encourages consumers to verify the authenticity of banknotes immediately upon receipt. “It’s essential to compare a suspicious note with a definitely genuine one, paying attention to various security features that can be felt or seen by tilting the banknotes,” he advises.
Felons often source counterfeit notes from countries like China or Turkey, using online platforms to distribute them worldwide. The Federal Criminal Police Office notes that many perpetrators are teenagers or young adults who leverage counterfeit money to purchase inexpensive items, thereby receiving substantial real change.
Counterfeiting currency is a serious offense, punishable by a minimum one-year prison sentence. Even receiving counterfeit notes carries legal implications; individuals are required to surrender such notes to law enforcement.
In a recent investigation, the police in Frankfurt uncovered 31,000 euros worth of counterfeit money hidden in a man’s car. The individual failed to provide credible information regarding the origin of the counterfeit cash and was initially sentenced to a suspended sentence of one year and six months, with the verdict still pending.
Stay vigilant and protect yourself from falling victim to counterfeit currency or fraud schemes.