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ARCHIVED - ECB reports 22 per cent rise in fake banknote detection
Only 20 out of every million are believed to be fake, most of them 20- and 50-euros notes
The European Central Bank reported last Friday that during the second half of 2019 the number of fake banknotes withdrawn from circulation rose sharply to 308,000, representing increases of 22.7 per cent in comparison with the first six months of the year and 17.6 per cent over the equivalent period in 2018.
Over 70 per cent of the fake notes which were detected and withdrawn were of the 20- and 50-euro denominations, but despite the increase the bank stresses that the probability of being receiving one is extremely remote: after all, the total amount of cash in circulation in the currency is around 1.3 billion euros in over 24,000 million notes: in other words, fewer than 20 of every million notes are fakes, a figure which generally remains constant although in 2009 it suddenly rose to a peak of 65 notes per million.
The new series of banknotes benefit from the various security features which can be checked simply, such as a portrait in the watermark and in the hologram, plus two new and upgraded ones which make them harder to counterfeit but still easy to check:
Satellite hologram: this brand new feature can be found at the top of the silvery stripe. When you tilt the banknote, you can see small € symbols moving around the number. The € symbols become clearer under direct light.
Emerald number: when you tilt the banknote, the shiny number in the bottom left corner displays an effect of the light that moves up and down, while the number changes colour from emerald green to deep blue. The new €100 and €200 banknotes also show € symbols inside the number.
The new banknotes also contain new and upgraded features for authentication by machines and devices: they are the same size as 50-euro notes, making them easier not only for machine processing but also for handling, according to the ECB.
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