€10 banknote continues to be the most counterfeited in Malta

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€10 banknote continues to be the most counterfeited in MaltaIn the first half of 2016, the number of counterfeit euro banknotes reported to the Central Bank of Malta amounted to 2,371 pieces, practically equivalent to the amount found in the first half of 2015.

Of all the fake euro banknotes seized in Malta over the first half of the year, the €10 denomination continues to be the most counterfeited denomination accounting for 69% of all seized counterfeits.

The overall quantity of counterfeits withdrawn from circulation was 7.7% lower than the aggregate figure withdrawn in the previous six months (July to December 2015).

When compared with the average number of genuine euro banknotes in circulation in Malta (slightly above 11.55 million in the first half of 2016), the proportion of euro counterfeits remains insignificant. It is also low (0.72%) as a proportion of the total number of counterfeits seized in the euro area as a whole over the same period which, according to the European Central Bank amounted to 331,000 pieces.

During this period, the share of the €20 and €50 continued to decrease and now jointly account for 29% of all pieces seized in circulation.

The Bank advises that anyone who receives a suspect note should contact either the Police by calling on 2122 4001 or by contacting the Central Bank of Malta on 2550 6012/13

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