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Friday, March 1, 2024

Counterfeit banknotes increased in Cyprus – Who had the most “hits”

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Αυξorθηκαν τα&pi ;λαστα χαρτονομиσματα στην Κyπρ ο – Ποιο εΙχε τα περισσότερα “κρο yσματα”

In Cyprus, the €10 banknote presented the highest counterfeiting rate, representing 40.8% of the total

In 2022, 451 counterfeit euro banknotes were withdrawn from circulation in Cyprus , showing an increase of 113.7% compared to the previous year.

At the same time, according to data from the European Central Bank, a total of approximately 376,000 pieces of counterfeit euro banknotes of various denominations were withdrawn in 2022, showing an increase of 8.4% in relation to 2021.

This is partly due to the recovery of economic activity in 2022 after the lifting of most restrictive measures due to COVID-19, the CBC said in a statement.

Banknotes with denominations of €50 and €20 still show the higher rates of counterfeiting, representing in total just under two-thirds of the total. In particular, according to ECB data, the €50 banknote had a share of 40% of all counterfeit banknotes, while the €20 banknote was second with 23.6%.

In Cyprus, the €10 banknote presented the highest counterfeit rate, representing 40.8% of the total, according to the CBC.

“Compared to the number of genuine euro banknotes in circulation, the quantity of counterfeits remains very small”, notes the CBC.

Furthermore, 96.6% of counterfeit banknotes were detected in eurozone member states, 2.7% in European Union member states outside the eurozone and 0.7% in other parts of the world.

“Despite the very small amount of counterfeits, the Central Bank of Cyprus advises citizens to be careful and check in detail the banknotes they receive during their transactions in cash”, reports the CBC.

Finally, it should be noted that both on the website of the Central Bank of Cyprus and the European Central Bank there is information about simple ways to check the authenticity of euro banknotes.

source: KYPE< /p>

Source: 24h.com.cy

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